...João Zani; Eduardo Tomedi Leites; Clea Beatriz Macagnan; Márcio Telles Portal Purpose – The interest paid on own capital can benefit companies in the Brazilian capital market as it can be considered a business expense and is, therefore, deductible as a corporate tax. The purpose of this paper...

...Joseph K. Winsen Purpose To analyse the net present value (NPV) rule for corporate investments incorporating shareholder personal taxes, under the classical system of taxing corporate profits. Design/methodology/approach The after‐tax payoffs to shareholders are calculated, comparing immediate...