Narrow search
Showing 1 - 10 of 207
Cover Image
Private Protection Against Crime When Property Value is Private Information
Baumann, Florian; Friehe, Tim - 2021
This paper analyzes private precautions against crime when the value of the property to be protected is private information. Within a framework in which potential criminals can choose between various crime opportunities, we establish that decentralized decision-making by potential victims may...
Persistent link: https://www.econbiz.de/10013315885
Cover Image
The Effect of Tax Havens on Host Country Welfare
Gresik, Thomas; Schindler, Dirk; Schjelderup, Guttorm - CESifo - 2015
thin capitalization rules when multinationals can also shift income via transfer prices. We show that while permissive thin …
Persistent link: https://www.econbiz.de/10011265255
Cover Image
International Debt Shifting: Do Multinationals Shift Internal or External Debt?
Møen, Jarle; Schindler, Dirk; Schjelderup, Guttorm; … - CESifo - 2011
multinationals, we find strong empirical support for our model. The estimated coefficients suggest that internal and external debt …
Persistent link: https://www.econbiz.de/10009221552
Cover Image
The Capital Structure of Multinational Companies under Tax Competition
Panteghini, Paolo - CESifo - 2006
This article studies the relationship between debt policies of multinational companies (MNCs) and governments’ tax strategies. In the first part, it is shown that the ability to shift income from high- to low-tax countries affects MNCs’ financial choices. In the second part we show how...
Persistent link: https://www.econbiz.de/10005765711
Cover Image
Profit Shifting by Debt Financing in Europe
Barion, Francesca; Miniaci, Raffaele; Panteghini, Paolo; … - CESifo - 2010
This article aims at analyzing the link between subsidiaries’ capital structure and taxation in Europe. First we introduce a trade-off model, which studies a MNCs’ financial strategy and shows how debt policy allows multinational groups to shift profits from low-tax to high-tax...
Persistent link: https://www.econbiz.de/10008534057
Cover Image
Taxation and Capital Structure Choice – Evidence from a Panel of German Multinationals
Buettner, Thiess; Overesch, Michael; Schreiber, Ulrich; … - CESifo - 2006
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 …
Persistent link: https://www.econbiz.de/10005181569
Cover Image
The Impact of Thin-Capitalization Rules on Multinationals’ Financing and Investment Decisions
Büttner, Thiess; Overesch, Michael; Schreiber, Ulrich; … - CESifo - 2006
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 …
Persistent link: https://www.econbiz.de/10005405727
Cover Image
Multinationals, Minority Ownership and Tax-Efficient Financing Structures
Schindler, Dirk; Schjelderup, Guttorm - CESifo - 2010
This paper presents a theory model that simultaneously accounts for the financing decisions and ownership structure in … affiliates of multinational firms. We find that affiliates of multinationals have higher internal and overall debt ratios and … externality whereby minority ownership dampens the incentive to avoid taxes through the use of internal debt. …
Persistent link: https://www.econbiz.de/10008572544
Cover Image
North-South Technology Transfer in Unionised Multinationals
Lommerud, Kjell Erik; Meland, Frode; Straume, Odd Rune - CESifo - 2010
We study how incentives for North-South technology transfers in multinational enterprises are affected by labour market institutions. If workers are collectively organised, incentives for technology transfers are partly governed by firms’ desire to curb trade union power. This will affect not...
Persistent link: https://www.econbiz.de/10008799749
Cover Image
Creative Destruction and Productive Preemption
Norbäck, Pehr-Johan; Persson, Lars; Svensson, Roger - CESifo - 2013
We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are more likely to be sold (or licensed) to an incumbent due to strategic product market effects on the sales price. Such preemptive acquisitions by incumbents are shown to stimulate...
Persistent link: https://www.econbiz.de/10010877893