Please use this identifier to cite or link to this item:
http://hdl.handle.net/11375/5507| Title: | The market valuation of deferred taxes |
| Authors: | Tihanyi, Eva McMaster University, Faculty of Business |
| Publication Date: | Mar-1980 |
| Series/Report no.: | Research and working paper series (McMaster University. Faculty of Business) no. 162 |
| Abstract: | <p>Three variants of a finite-horizon growth model are developed into regression equations to infer the stock market valuation of tax deferral gains, using approximately 2000 Compustat records from the 1970-75 period. It is concluded that deferred tax credits were recognized as sources of shareholder wealth, but subjected to a discount in comparison to reported earnings and reported equity funds. The expectation of deceleration, depreciation-correction, and price regulation are discussed as potential causes for the discount, and related to the industry-by-industry and year-by-year structure of the regression estimates.</p> |
| Description: | <p>15, 4 p. ; Includes bibliographical references. ;</p> |
| URI: | http://hdl.handle.net/11375/5507 |
| Identifier: | dsb/164 1163 4944188 |
| Appears in Collections: | DeGroote School of Business Working Paper Series |
Files in This Item:
| File | Size | Format | |
|---|---|---|---|
| fulltext.pdf | 719.48 kB | Adobe PDF | View/Open |
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