Impact of Corporate Income Tax on the Capital Structure of Canadian Listed Companies
Bibliographic record
Abstract
This study investigates the impact of capital structure on the profitability of non-financial listed companies in China for the period 2010 to 2014.The entire sample data includes 571 companies from 12 different industries.The study builds a panel-data model for the data, uses both linear model and quadratic model to test the relationship between capital structure and profitability.Through correlation and regression analysis, the study finds that the relationship between total debt-asset ratio and profitability is negative, and relationship between long-term debt to total debt ratio and profitability is positive.Moreover, the quadratic model indicates that the evidence of optimal capital structure exists in the Chinese capital market.The conclusion is a company with higher tax rate, basically the company will obtain lower cash flow from operating activities.However, the model indicates that the short term liability will decrease when a company faced higher marginal tax rate, the long term debt has no proportional change.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.000 | 0.000 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.002 | 0.002 |
| Science and technology studies | 0.001 | 0.001 |
| Scholarly communication | 0.000 | 0.001 |
| Open science | 0.001 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".