FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W2036708040> ?p ?o ?g. }

• W2036708040 endingPage "55" @default.
• W2036708040 startingPage "55" @default.
• W2036708040 abstract "In the past two decades, leasing has developed into an important method of asset-based financing. Spurred by the tax concessions granted in the early 1980s, operating leases have become prime vehicles for financial intermediation. As a result, legal owners of assets may in fact be pure financial agents intermediating between manufacturers and operators of assets. In the past, the academic literature focused primarily on the question of valuation assuming a two party transaction namely, the lessor and the lessee. No distinction was made between the manufacturer and the pure leasing intermediary. (See, for example, [1], [2], [7], and [8].) It is, therefore, unclear if the same analysis holds for both types of lessor. Broadly speaking, the advantages of leasing as a form of financial intermediation stem from two sources reduction in taxes and lower financing costs. Many large leasing transactions have elements of both. The former arises primarily due to differences between the marginal tax rates of the lessor and the lessee. There are many aspects of the latter, but the most important one is related to the transactions cost of adjusting the debt-equity mix of a firm. In this paper, we concentrate on tax considerations. In particular, we examine the conditions under which a pure financial intermediary benefits from entering the leasi g business as a lessor. Obviously, in order to justify the creation of a leasing financial intermediary, between an equipment manufacturer and the user, base on a tax rationale, it must be demonstrated that the tax benefits of the arrangement exceed those when the manufacturer serves directly as the lessor. This may be true because the base for depreciation differs depending on whether the lessor is an intermediary or is the manufacturer of the asset. In a competitive market, it may pay a manufacturer to share the benefits of a higher depreciation base through selling the asset to an intermediary who, in turn, can act as the lessor. Note that in an otherwise identical lease contract, the manuAn earlier version of this paper was presented at the Financial Management Association meetings in Toronto, Canada, 1984. The first author acknowledges the financial support he received from Rutgers. The authors gratefully acknowledge the comments of Robert Taggart, Charles Upton, and the anonymous referees." @default.
• W2036708040 created "2016-06-24" @default.
• W2036708040 creator A5004260744 @default.
• W2036708040 creator A5029648518 @default.
• W2036708040 creator A5067475806 @default.
• W2036708040 date "1987-01-01" @default.
• W2036708040 modified "2023-10-18" @default.
• W2036708040 title "Leasing and Financial Intermediation: Comparative Tax Advantages" @default.
• W2036708040 cites W1519130743 @default.
• W2036708040 cites W2021541919 @default.
• W2036708040 cites W2036411211 @default.
• W2036708040 cites W2077705095 @default.
• W2036708040 cites W2081281397 @default.
• W2036708040 cites W2091334932 @default.
• W2036708040 cites W2147038394 @default.
• W2036708040 doi "https://doi.org/10.2307/3665551" @default.
• W2036708040 hasPublicationYear "1987" @default.
• W2036708040 type Work @default.
• W2036708040 sameAs 2036708040 @default.
• W2036708040 citedByCount "17" @default.
• W2036708040 countsByYear W20367080402013 @default.
• W2036708040 countsByYear W20367080402014 @default.
• W2036708040 countsByYear W20367080402015 @default.
• W2036708040 countsByYear W20367080402016 @default.
• W2036708040 countsByYear W20367080402017 @default.
• W2036708040 crossrefType "journal-article" @default.
• W2036708040 hasAuthorship W2036708040A5004260744 @default.
• W2036708040 hasAuthorship W2036708040A5029648518 @default.
• W2036708040 hasAuthorship W2036708040A5067475806 @default.
• W2036708040 hasConcept C10138342 @default.
• W2036708040 hasConcept C144133560 @default.
• W2036708040 hasConcept C162324750 @default.
• W2036708040 hasConcept C2779143981 @default.
• W2036708040 hasConcept C65146658 @default.
• W2036708040 hasConcept C73283319 @default.
• W2036708040 hasConceptScore W2036708040C10138342 @default.
• W2036708040 hasConceptScore W2036708040C144133560 @default.
• W2036708040 hasConceptScore W2036708040C162324750 @default.
• W2036708040 hasConceptScore W2036708040C2779143981 @default.
• W2036708040 hasConceptScore W2036708040C65146658 @default.
• W2036708040 hasConceptScore W2036708040C73283319 @default.
• W2036708040 hasIssue "1" @default.
• W2036708040 hasLocation W20367080401 @default.
• W2036708040 hasOpenAccess W2036708040 @default.
• W2036708040 hasPrimaryLocation W20367080401 @default.
• W2036708040 hasRelatedWork W1550817206 @default.
• W2036708040 hasRelatedWork W1583494396 @default.
• W2036708040 hasRelatedWork W2136069912 @default.
• W2036708040 hasRelatedWork W2415616883 @default.
• W2036708040 hasRelatedWork W2612556388 @default.
• W2036708040 hasRelatedWork W2951794101 @default.
• W2036708040 hasRelatedWork W3009815140 @default.
• W2036708040 hasRelatedWork W3080846695 @default.
• W2036708040 hasRelatedWork W3216636397 @default.
• W2036708040 hasRelatedWork W4312387740 @default.
• W2036708040 hasVolume "16" @default.
• W2036708040 isParatext "false" @default.
• W2036708040 isRetracted "false" @default.
• W2036708040 magId "2036708040" @default.
• W2036708040 workType "article" @default.