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Debt and taxes : Japan compared with the U.S. |
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| Authors: | David Flath |
| Affiliation: | North Carolina State University, Raleigh, NC 27650, USA |
| Abstract: | The extreme reliance on debt that has been a persistent feature of corporate finance in contemporary Japan is at least partially due to low personal tax rates. This statement is supported by comparison of Japan and U.S. taxes based on the taxes and failure cost theory of finance. |
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