The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
Tax Planning, Regulatory Capital Planning, and Financial Reporting Strategy for Commercial Banks
Abstract
We test whether banks’ investment and financing policies can be explained by tax status. We document changes in bank holdings of municipal bonds in response to changes in tax rules relating to deductibility of interest expense. We also document an association between banks’ marginal tax rates and their investment and financing decisions, which is consistent with the existence of tax clienteles. However, banks do not sort themselves perfectly into investment and financing clienteles because of adjustment costs. We posit specific types of transaction-cost impediments to tax planning, and document that banks apparently trade off these costs against tax-planning benefits.
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Citations
Cites
MYERS, S. C. (1984) · The Journal of Finance · doi:10.1111/j.1540-6261.1984.tb03646.x · Cited by 7,526
Cited by
A Review of the Earnings Management Literature and Its Implications for Standard Setting
Healy, P. M., & Wahlen, J. M. (1999) · Accounting Horizons · doi:10.2308/acch.1999.13.4.365 · Cited by 4,623
Tax Reporting Aggressiveness and Its Relation to Aggressive Financial Reporting
Frank, M. M., Lynch, L. J., & Rego, S. O. (2009) · The Accounting Review · doi:10.2308/accr.2009.84.2.467 · Cited by 1,523
Does the Source of Capital Affect Capital Structure?
Faulkender, M., & Petersen, M. A. (2006) · Review of Financial Studies · doi:10.1093/rfs/hhj003 · Cited by 1,375
Do Taxes Affect Corporate Financing Decisions?
MacKIE‐MASON, J. K. (1990) · The Journal of Finance · doi:10.1111/j.1540-6261.1990.tb03724.x · Cited by 1,153
Lev, B. (1989) · Journal of Accounting Research · doi:10.2307/2491070 · Cited by 1,120
Metadata
- Authors
- Scholes, M. S., Wilson, G. P., & Wolfson, M. A.
- Venue
- Review of Financial Studies
- Publisher
- Oxford University Press (OUP)
- Published
- 1990-10
- Volume
- 3
- Issue
- 4
- Pages
- 625-650
- ISSN
- 0893-9454 (ISSN-L)
- 1465-7368
- OpenAlex
- W2075789206
- Cited by
- 442
- References
- 1
- FWCI
- 31.94
- Type
- journal article
- Language
- en
- Open access
- closed
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- Scholes, M. S., Wilson, G. P., & Wolfson, M. A. (1990). Tax Planning, Regulatory Capital Planning, and Financial Reporting Strategy for Commercial Banks. Review of Financial Studies. https://doi.org/10.1093/rfs/3.4.625
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
