empirically show two main findings: first, risk-taking is positively related to the length of tax loss periods because the loss … hinges on firm-specific expectations of future loss recovery. …

; capital market restrictions ; loss offset ; firm-level data …

Following recent court rulings, cross-border loss compensation for multinational firms will likely be introduced, at … cross-border loss compensation is likely to intensify tax competition when, following current international practice, the … parent firm's home country bases the tax rebate for a loss-making subsidiary on its own tax rate. In equilibrium, tax revenue …

-border loss offset inherent to formula apportionment. In the medium run, in which only firms can adjust their strategies, tax …, contrary to output factors, input factors provide an insurance against tax revenue shortfalls due to loss-making affiliates. …

This paper analyzes the impact of particular loss offset limitations on intrastate and crossborder investment decisions … investment incentives of tax law asymmetries. Integrating an initial loss carryforward at the time of investment creates a … special decision situation. Varying loss offset parameters typically induces ambiguous effects that depend on the combination …

positive correlation between globalization and credit market deregulation. We account for reverse causality by using predicted …