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。

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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。

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Tax rises have made some inroads into the country's national debt.

增加税收已使国债有所减少。

《牛津词典》

"So,you pile up all this Democrat spending, all their borrowing,all their debt, you add it to their government takeover of health care, their 'cap and trade' national energy tax and their continued bailouts.

VOA: standard.2010.02.06

A company, according to Modigliani and Miller, has to weigh their tax considerations against their bankruptcy costs and get an optimum debt-equity ratio out of that.

根据MM理论,一家公司,必须在租税考量与破产成本之间进行权衡,然后得出最有利的负债权益比

耶鲁公开课 - 金融市场课程节选

Corporations have managed to lower their share of the tax burden over the years, but only by loading up on tax-deductible debt and tax accountants.

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Because, thanks to a recent law change, no taxes are paid on 529 plan earnings, this has the effect of turning corporate debt into tax-free debt.

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This may sound like a minor tax debt, but California tax authorities want their money.

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