The effect of taxes on the structure of corporate acquisitions

Article Abstract:

A study examined the tax and nontax determinants of corporate acquisition structure. Unlike earlier studies, this research covered acquiring firms, target firm sand target shareholders. Data were collected from a sample of 340 corporate acquisitions made between 1985 and 1988. Findings revealed that the tax and nontax features of the acquiring firm has a critical impact on the transaction structure. However, the capital gains tax liabilities of the potential target shareholder or the tax and nontax characteristics of the target firm were not found to affect the transaction structure. Also, the benefits of tax deferral were found to be modest, as evidenced by the finding that built-in target shareholder capital gains are not significant on average and target shares turn over rapidly.

Research, Acquisitions and mergers, Corporate taxes, Corporations

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Debt-equity hybrid securities

Article Abstract:

The authors evaluate corporations' debt financing techniques by focusing on their management of trust preferred stocks. Topics include the amount of money corporations spend to manage their balance sheets, possible tax benefits of leverage-increases, and relationship between investor-level taxation and taxation of securities.

Statistical Data Included, Methods, Management, Usage, Economic aspects, Financial statements, Debt financing (Corporations), Debt financing, Leverage (Finance), Leverage, Debt equity conversion, Preferred stocks, Hybrid instruments (Finance), Hybrid instruments (Securities)

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Is there a link between executive equity incentives and accounting fraud?

Article Abstract:

The impact of accounting fraud, on executive stock compensation during 1996-2003, is examined.

United States, Management Compensation, Analysis, Influence, Executives, Executive compensation, 20th century AD, Accounting fraud

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