revenue, investment and efficiency. This paper explores these issues, conceptually and empirically. It finds residual profits … of reallocating excess profits under RPA, while adverse for investment hubs, appears beneficial for lower income … countries even when the formula allocates by destination-based sales. The impact on investment incentives is ambiguous and …

Unilateral adoption of transfer pricing regulations may have a negative impact on real investment by multinational … multinational companies in 27 countries during 2006-2014, to find that MNC affiliates reduce their investment by over 11 percent … following the introduction of transfer pricing regulations. There is no significant reduction in total investment by the MNC …

boost afforded by the tax and maintain domestic investment-saving equilibrium. The paper demonstrates that spillover effects … from the tax reform are positive in the long run as other countries' exports benefit from additional investment in the …

. Second, it shows that in the presence of financing frictions which raise the cost of investment, the policy temporarily … relaxes the financing constraint thereby reducing the marginal cost of investment. This direct effect implies positive … reduces the expected marginal return on investment mitigating the direct stimulative effects …