internal debt, a number of developing countries do not. In this paper, we analyze the effect on FDI and host country welfare of … thin capitalization rules when multinationals can also shift income via transfer prices. We show that while permissive thin … capitalization limits may be needed in developing countries to attract FDI, the amount of debt financing allowed by the permissive …

multinationals, we find strong empirical support for our model. The estimated coefficients suggest that internal and external debt …

This article studies the relationship between debt policies of multinational companies (MNCs) and governments’ tax …’ financial choices. In the second part we show how MNCs’ financial decisions can affect the tax strategies of two governments …

This paper analyzes the impact of taxes and lending conditions on the financial structure of multinationals' foreign … affiliates. The empirical analysis employs a large panel of affiliates of German multinationals in 26 countries in the period …

multinationals. A theoretical analysis shows that the imposition of such rules tends to affect not only the leverage and the level of … German multinationals in 24 countries in the period between 1996 and 2004 offers some support for the theoretical predictions …

affiliates of multinational firms. We find that affiliates of multinationals have higher internal and overall debt ratios and …