Taxes, Inflation and Corporate Financial Policy
分析通胀对个人和公司所得税的扭曲效应，探讨其对企业股利政策、财务结构及股东一致性的影响，并揭示通胀下企业借贷行为的变化。
ABSTRACT This paper examines inflation‐induced distortions in personal and corporate income taxes and discusses the implications for corporate dividend and financial structure policies and for shareholder unanimity. The tax effects relating to capital gains and debt interest cause changes in aggregate corporate borrowing and lead to equilibrium tax relationships which differ from the zero‐inflation tax relationships.