Hopland, Arnt Ove; Lisowsky, Petro; Mardan, Mohammed; … - CESifo - 2014
to operating losses. First, we develop an analytical model that considers how affiliate losses can be adjusted by using … income shifting, multinational firms report lower profits when running profits, and lower losses when running losses … prices and internal capital structure, regardless of making losses. Second, using data on direct transfer payments and …