A Study on the Strategy of Online Leasing under the Condition of Down Payment

Abstract

Abstract:

In recent years, financial leasing has been widely used as an important means of financing in China. Unlike operating leases, difference in corporate tax rate is one of the main reasons why a lessee uses the lease financing. This paper explores the online financial leasing issue to find out how investment decision-makers, who know nothing or little about potential market demand, decide to use operating or financial leasing? Most studies in the existing literature focus on online lease-or-buy issue. Considering the influence of tax rate on financial leasing policies, this paper designs two online financial leasing policies and gives the competitive ratios in two cases:one with down payment and the other without. The result shows that:in the case without down payment involved, online strategy performance improves as the corporate income tax rate decreases; in the case with down payment involved, the performance of online strategy increases while the down payment increases.

Key words: online financial leasing, down payment, enterprise income tax rate, competitive ratio

Wu Fan, Xin Chunlin, Liu Bin, Chen Lihua. A Study on the Strategy of Online Leasing under the Condition of Down Payment[J]. , 2018, 30(10): 248-257.

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