TAXES, FINANCIAL DECISIONS AND ORGANIZATIONAL FORM - EVIDENCE FROM PUBLICLY TRADED PARTNERSHIPS
成果类型：
Article
署名作者：
GENTRY, WM
署名单位：
National Bureau of Economic Research
刊物名称：
JOURNAL OF PUBLIC ECONOMICS
ISSN/ISSBN：
0047-2727
DOI：
10.1016/0047-2727(94)90022-1
发表日期：
1994
页码：
223-244
关键词：
摘要：
Publicly Traded Partnerships (PTPs), also known as Master Limited Partnerships, are similar to U.S. corporations, yet they are not subject to corporate taxes. Given their mixture of corporate and partnership characteristics, PTPs provide an experiment for studying taxation and firm financial decisions. This paper compares the financial structure and dividend policies of PTPs and corporations in the oil and gas exploration industry. The results are consistent with hypotheses about taxes and financial decisions: controlling for other factors, PTPs pay more dividends and borrow less than similar corporations.
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