Their results are similar to ours in that they conclude that these tax benefits act as a non-debt tax shield and affect leverage.
他们得出了这些税务优惠可以充当非债税务屏障和杠杆的结论，这个结果和我们的相似。
Theory suggests that firms with tax benefits from the exercise of stock options should carry less debt since tax benefits are a non-debt tax shield.
这个理论建议公司运用股票期权带来的税收利益从而减少负债，因为税收利益可充当债务的挡箭牌。
This paper also points out that growth opportunities, firm scale, non-debt tax shield, profitability are all the significant factors which have great impacts on the capital structure in China.
研究还表明公司的成长性、规模、非负债税盾以及盈利性也是影响我国上市公司资本结构的重要因素。
This paper also points out that growth opportunities, firm scale, non-debt tax shield, profitability are all the significant factors which have great impacts on the capital structure in China.
研究还表明公司的成长性、规模、非负债税盾以及盈利性也是影响我国上市公司资本结构的重要因素。
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