Multinationals, Minority Ownership and Tax-Efficient Financing Structures

We model how multinationals structure their borrowing and lending transactions and find that affiliates in high-tax countries have higher internal and overall debt ratios and lower rental rates of physical capital than comparable domestic firms. We also show that affiliates with minority owners have less debt than wholly owned affiliates.

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Year of publication:	2008-10-17
Authors:	Schindler, Dirk ; Schjelderup, Guttorm
Institutions:	Institutt for foretaksøkonomi, Norges Handelshøyskole (NHH)
Subject:	Multinational enterprises \| tax-efficient financing structures \| minority ownership

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Extent:	application/pdf
Series:	Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	The text is part of a series Discussion Papers Number 2008/19 22 pages
Classification:	F23 - Multinational Firms; International Business ; H25 - Business Taxes and Subsidies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005645054