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Wu, L.S. and Yue, H. (2006) Tax Rate Adjustment and Capital Structure Change: Based on the Study of China’s Cancellation of Preferential Tax Policy of “First Levy and Then Return”. Management World, 11, 111-118.

has been cited by the following article:

• TITLE: Research on the Impact of Tax Shield Effect on Corporate Capital Structure—Empirical Analysis Based on A-Share Listed Companies

  AUTHORS: Lei Lei

  KEYWORDS: Capital Structure, Tax Shield Effect, Corporate Income Tax

  JOURNAL NAME: Modern Economy, Vol.11 No.1, January 17, 2020

  ABSTRACT: This paper uses a random-effects model and takes 224 listed companies in China from 2002 to 2017 as a sample to empirically study the relationship between the corporate income tax shield effect and corporate capital structure in China. It is found that the debt tax shield and corporate capital structure are significantly positive. Relatedly, the non-debt tax shield is significantly negatively related to the corporate capital structure. At the same time, the impact of debt tax shields and non-debt tax shields on corporate capital structure varies from industry to industry.