摘要
在考虑公司收入税、个人利息收入所得税、公司分红、财务困境成本以及权益浮动成本等因素的影响下,推导并发展了基于MM定理的公司在债务融资、分红以及产权投资等内生选择下的动态平衡模型,可为公司的融资决策分析提供参考.
A dynamic trade-off model is developed with endogenous choice of leverage, distributions, and real investment in the presence of a graduated corporate income tax, individual taxes on interest and corporate distributions, financial distress costs, and equity flotation costs,and based on the MM theorem. It is a reference for the analysis of the corporate＇ s finance strategy.
出处
《华北水利水电学院学报》
2008年第2期91-96,共6页
North China Institute of Water Conservancy and Hydroelectric Power
