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Cited by 1,153

The DOI matches its Crossref record; 7 of the 7 references it cites were found in a registry or an index.

Do Taxes Affect Corporate Financing Decisions?

MacKIE‐MASON, JEFFREY K.·1990·The Journal of Finance
DOI 10.1111/j.1540-6261.1990.tb03724.x
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Abstract

This paper provides clear evidence of substantial tax effects on the choice between issuing debt or equity; most studies fail to find significant effects. The relationship between tax shields and debt policy is clarified. Other papers miss the fact that most tax shields have a negligible effect on the marginal tax rate for most firms. New predictions are strongly supported by an empirical analysis; the method is to study incremental financing decisions using discrete choice analysis. Previous researchers examined debt/equity ratios, but tests based on incremental decisions should have greater power.

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Crossref · 10.1111/j.1540-6261.1990.tb03724.x

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Metadata

Authors
MacKIE‐MASON, J. K.
Venue
The Journal of Finance
Publisher
Wiley
Published
1990-12
Volume
45
Issue
5
Pages
1471-1493
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.1990.tb03724.x
OpenAlex
W2071206222
Cited by
1,153
References
7
FWCI
24.42
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Do Taxes Affect Corporate Financing Decisions? https://app.cochat.ai/papers/10.1111/j.1540-6261.1990.tb03724.x
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MacKIE‐MASON, J. K. (1990). Do Taxes Affect Corporate Financing Decisions? The Journal of Finance. https://doi.org/10.1111/j.1540-6261.1990.tb03724.x

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.