Abstract
In this chapter we enlarge the analysis given in the previous one. In addition to the leverage irrelevancy theorem we discuss the impact of taxation on the corporate dividend and investment policy as well as on the investors’ choices as a function of their disposable personal income. To do so, we once again elaborate on the firm’s equilibrium market value onder taxation and its implications with respect to tax induced clienteles.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 1988 Springer-Verlag Berlin Heidelberg
About this chapter
Cite this chapter
van Schijndel, GJ.C.T. (1988). Financial Market Equilibrium under Taxation and Tax Induced Clienteles Effects. In: Dynamic Firm and Investor Behaviour under Progressive Personal Taxation. Lecture Notes in Economics and Mathematical Systems, vol 305. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-46637-3_4
Download citation
DOI: https://doi.org/10.1007/978-3-642-46637-3_4
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-19230-5
Online ISBN: 978-3-642-46637-3
eBook Packages: Springer Book Archive