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Foreign ownership and the extensive margins of exports : evidence for manufacturing enterprises in Germany
Raff, Horst; Wagner, Joachim - 2013
exports and take this model to data from Germany, one of the leading actors on the world market for goods. In line with …
Persistent link: https://www.econbiz.de/10009772938
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Global firms, national corporate taxes : an evolution of incompatibility
Hebous, Shafik - 2020
How did the rise of multinational enterprises (MNEs) put pressure on the prevailing international corporate tax framework? MNEs, and firms with market power, are not new phenomena, nor is the corporate income tax, which dates to the early 20th century. This prompts the question, what is...
Persistent link: https://www.econbiz.de/10012288036
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Contagious exporting and foreign ownership : evidence from firms in Shanghai using a Bayesian spatial bivariate probit model
Baltagi, Badi H.; Egger, Peter; Kesina, Michaela - 2018
Whether a firm is able to attract foreign capital and whether it may participate at the export market depends on whether the fixed costs associated with doing so are at least covered by the incremental operating profits. This paper provides evidence that success for some firms in attracting...
Persistent link: https://www.econbiz.de/10011822884
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Growing like China : firm performance and global production line position
Chor, Davin; Manova, Kalina; Yu, Zhihong - 2020
Global value chains have fundamentally transformed international trade and development in recent decades. We use matched firm-level customs and manufacturing survey data, together with Input-Output tables for China, to examine how Chinese firms position themselves in global production lines and...
Persistent link: https://www.econbiz.de/10012270354
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Global engagement and returns volatility
Girma, Sourafel; Lancheros, Sandra; Riaño, Alejandro - 2015
This paper uses high-frequency data for publicly-listed Japanese manufacturing firms over the period 2000 to 2010 to show that a greater reliance on foreign market sales increases the conditional volatility of firms' stock returns. The two margins of global engagement we consider, namely,...
Persistent link: https://www.econbiz.de/10011405146
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The effects of taxation on the location decision of multinational firms : M&A vs. Greenfield investments
Hebous, Shafik; Ruf, Martin; Weichenrieder, Alfons J. - 2010
In this study, we estimate the impacts of differences in international tax rates on the probability of choosing a location for an affiliate of a multinational firm. In particular, we distinguish between the tax sensitivity of Greenfield and M&A investments. Based on a novel firm-level dataset on...
Persistent link: https://www.econbiz.de/10003974552
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Debt financing and sharp currency depreciations : wholly vs. partially owned multinational affiliates
Hebous, Shafik; Weichenrieder, Alfons J. - 2009
This paper provides empirical evidence on two potential costs of shared ownership of German affiliates abroad. First, in periods of currency crises, wholly-owned affiliates, in contrast to partially-owned affiliates, seem to circumvent financial constraints by accessing capital from their parent...
Persistent link: https://www.econbiz.de/10003923516
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Corporate profit shifting and the role of tax havens : evidence from German country-by-country reporting data
Fuest, Clemens; Hugger, Felix; Neumeier, Florian - 2021
annual tax base loss for Germany amounts to EUR 5.4 billion. Adding estimates of profit shifting by multinationals not … covered by the CbC data yields an overall estimate for profits shifted out of Germany to tax havens of EUR 19.1 billion per … year, corresponding to 4.3% of the profits reported by these firms in Germany. This implies a tax revenue loss due to …
Persistent link: https://www.econbiz.de/10012417748
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Transfer pricing and the arm's length principle under imperfect competition
Choi, Jay Pil; Furusawa, Taiji; Ishikawa, Jota - 2018
This paper analyzes incentives of a multinational enterprise to manipulate an internal transfer price to take advantage of corporate-tax differences across countries under both monopoly and oligopoly. We examine "cost plus" and "comparable uncontrollable price" as two alternative implementations...
Persistent link: https://www.econbiz.de/10011924645
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Taxes, profit shifting, and the real activities of MNEs : evidence from corporate tax notches
Hansen, Jaqueline; Merlo, Valeria; Wamser, Georg - 2023
We exploit exogenous variation in tax notches created by controlled foreign corporation (CFC) rules to better understand the profit-shifting behavior of multinational enterprises (MNEs) and its consequences for real activity. Using new data on CFC rules and information on direct parent-affiliate...
Persistent link: https://www.econbiz.de/10014322011