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Article

Taxation and capital structure: evidence from Russian companies

Asian Online Journal. 2015. Vol. 2. No. 1. P. 39-46.
Makeeva E. Y., Kozenkova T.

This paper presents a study of the impact of taxation on the capital structure of Russian companies, based on the Graham model. The study revealed that it is more appropriate to include the effective tax rate in the model, rather than use the marginal tax rate since it is more applicable for the Russian companies