{"series_title":"arqus, Quantitative Research in Taxation","type":"working_paper","date_updated":"2022-01-06T07:01:35Z","file":[{"success":1,"file_name":"arqus_206.pdf","file_id":"19655","relation":"main_file","content_type":"application/pdf","access_level":"closed","creator":"llennard","file_size":940451,"date_updated":"2020-09-24T12:41:51Z","date_created":"2020-09-24T12:41:51Z"}],"ddc":["330"],"language":[{"iso":"eng"}],"volume":206,"title":"Interest Barrier and Capital Structure Response","_id":"5022","file_date_updated":"2020-09-24T12:41:51Z","department":[{"_id":"187"},{"_id":"635"}],"date_created":"2018-10-30T13:11:31Z","user_id":"61801","citation":{"ieee":"S. Alberternst and C. Sureth-Sloane, <i>Interest Barrier and Capital Structure Response</i>, vol. 206. 2016.","mla":"Alberternst, Stephan, and Caren Sureth-Sloane. <i>Interest Barrier and Capital Structure Response</i>. Vol. 206, 2016.","ama":"Alberternst S, Sureth-Sloane C. <i>Interest Barrier and Capital Structure Response</i>. Vol 206.; 2016.","apa":"Alberternst, S., &#38; Sureth-Sloane, C. (2016). <i>Interest Barrier and Capital Structure Response</i> (Vol. 206).","bibtex":"@book{Alberternst_Sureth-Sloane_2016, series={arqus, Quantitative Research in Taxation}, title={Interest Barrier and Capital Structure Response}, volume={206}, author={Alberternst, Stephan and Sureth-Sloane, Caren}, year={2016}, collection={arqus, Quantitative Research in Taxation} }","chicago":"Alberternst, Stephan, and Caren Sureth-Sloane. <i>Interest Barrier and Capital Structure Response</i>. Vol. 206. Arqus, Quantitative Research in Taxation, 2016.","short":"S. Alberternst, C. Sureth-Sloane, Interest Barrier and Capital Structure Response, 2016."},"year":"2016","status":"public","intvolume":"       206","has_accepted_license":"1","abstract":[{"lang":"eng","text":"The Organisation for Economic Co-Operation and Development (OECD) recently proposed\r\nan interest barrier to fight tax base erosion and profit shifting (BEPS). We use the introduction\r\nof such an interest deductibility restriction in Germany as a quasi-experiment and find significant\r\ncorporate capital structure responses. Using single entity financial statements and a detailed matching\r\napproach, we find evidence that companies that are affected by the interest barrier reduce their\r\nleverage by 4.7 percentage points more than non-affected companies. The effects are stronger among\r\nnon-financially constrained firms. Our results imply that interest barrier effects on capital structure\r\nhave so far been heavily underestimated."}],"author":[{"first_name":"Stephan","last_name":"Alberternst","full_name":"Alberternst, Stephan"},{"first_name":"Caren","last_name":"Sureth-Sloane","id":"530","full_name":"Sureth-Sloane, Caren"}]}