publication . Article . 1991

The Aggregate and Distributional Effects of the Tax Reform Act of 1986 on Firm Valuation

Givoly, Dan; Hayn, Carla;
Restricted
  • Published: 01 Jan 1991 Journal: The Journal of Business, volume 64, page 363 (issn: 0021-9398, eissn: 1537-5374, Copyright policy)
  • Publisher: University of Chicago Press
Abstract
The Tax Reform Act of 1986 (TRA) represents a major revision in the tax regime in which firms and individuals operate. The main effect of the TRA is intended to be distributional, shifting the tax burden from the individual sector to the corporate sector and, within the corporate sector, from firms whose effective tax rates were high to those that previously enjoyed considerable tax breaks. It is only natural, therefore, that the aggregate and distributional effects of the act across companies have become the focus of attention by investors and analysts. Official revenue projections prior to the passage of the act indicated an aggregate increase of over $120 bil...
Subjects
free text keywords: Economics, Tax avoidance, Tax Reform Act, Finance, business.industry, business, Dividend tax, Direct tax, Value-added tax, Financial economics, Indirect tax, Ad valorem tax, Tax reform, Statistics, Probability and Uncertainty, Economics and Econometrics, Statistics and Probability, Corporate tax
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publication . Article . 1991

The Aggregate and Distributional Effects of the Tax Reform Act of 1986 on Firm Valuation

Givoly, Dan; Hayn, Carla;