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Cited by 594

The DOI matches its Crossref record; 26 of the 26 references it cites were found in a registry or an index.

Debt, Leases, Taxes, and the Endogeneity of Corporate Tax Status

Open access
Graham, John R., Lemmon, Michael L., Schallheim, James S.·1998·The Journal of Finance
DOI 10.1111/0022-1082.55404
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Abstract

We provide evidence that corporate tax status is endogenous to financing decisions, which induces a spurious relation between measures of financial policy and many commonly used tax proxies. Using a forward‐looking estimate of before‐financing corporate marginal tax rates, we document a negative relation between operating leases and tax rates, and a positive relation between debt levels and tax rates. This is the first unambiguous evidence supporting the hypothesis that low tax rate firms lease more, and have lower debt levels, than high tax rate firms.

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Crossref · 10.1111/0022-1082.55404

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Metadata

Authors
Graham, J. R., Lemmon, M. L., & Schallheim, J. S.
Venue
The Journal of Finance
Publisher
Wiley
Published
1998-02
Volume
53
Issue
1
Pages
131-162
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/0022-1082.55404
OpenAlex
W3125366981
Cited by
594
References
26
FWCI
52.01
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: Debt, Leases, Taxes, and the Endogeneity of Corporate Tax Status. https://app.cochat.ai/papers/10.1111/0022-1082.55404
The paper
Graham, J. R., Lemmon, M. L., & Schallheim, J. S. (1998). Debt, Leases, Taxes, and the Endogeneity of Corporate Tax Status. The Journal of Finance. https://doi.org/10.1111/0022-1082.55404

Data sources

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.