Intro -- Contents -- I. INTRODUCTION -- II. FOREIGN BANKS IN CHINA -- III. LESSONS FROM INTERNATIONAL EXPERIENCE -- IV …

subsidiary banks affect the intra-bank capital structure through international debt shifting. Using a novel subsidiary …-level dataset for 558 commercial bank subsidiaries of the 86 largest multinational banks in the world, we find that taxes matter …-asset ratio in light of the traditional debt bias; and (ii) whether international corporate tax differentials vis-a-vis foreign …