The real estate industry is characterized by high investment and high fund demand. As a result, a reasonable capital structure is very important to it. Based on the analysis of current research about the corporate income tax and debt financing at home and abroad, combined with the amended Modigliani-Miller, trade-off and pecking order theories, this paper selects the real estate company data from 2009 to 2013 as research samples and analyzes the correlation between the corporate income tax burden and debt financing through empirical study. Moreover, the correlation between no-debt tax shield and debt financing is studied at the same time. This study aims to help the real estate industry ensure its reasonable proportion of financing and optimize its capital structure.
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