How do listed non-financial companies adjust their capital structure after an increase in corporate income tax rate?
Purpose: The purpose of this study is to investigate how listed non-financial companies in the German and French markets adjust their leverage after corporate income tax increases. Methodology: We performed a panel data regression analysis with a difference-in-differences approach based on Heider & Ljungqvist (2015) and Schandlbauer (2016). We used the firm size, market-to-book and tangibil
