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Taxes, Institutions and Foreign Diversification Opportunities

Desai, Mihir A. - 2007

Investors can access foreign diversification opportunities through either foreign portfolio investment (FPI) or foreign direct investment (FDI). By combining data on US outbound FPI and FDI, this paper analyzes whether the composition of US outbound capital flows reflect efforts to bypass home...

Persistent link: https://www.econbiz.de/10012776877

Theft and Taxes

Desai, Mihir A. - 2010

This paper analyzes the interaction between corporate taxes and corporate governance. We show that the characteristics of a taxation system affect the extraction of private benefits by company insiders. A higher tax rate increases the amount of income insiders divert and thus worsens governance...

Persistent link: https://www.econbiz.de/10012762547

Constraining Managers Without Owners : Governance of the Not-for-Profit Enterprise

Desai, Mihir A.; Yetman, Robert J. - 2022

In the absence of owners, how effective are the constraints imposed by the state in promoting effective firm governance? This paper develops state-level indices of the legal and reporting rules facing not-for-profits and examines the effects of these rules on not-for-profit behavior. Stronger...

Persistent link: https://www.econbiz.de/10013311901

Institutional Tax Clienteles and Payout Policy

Desai, Mihir A. - 2007

changes, managers alter their dividend policy to serve their institutional shareholders … their institutional shareholders indicates that quot;dividend-aversequot; institutions are significantly less likely to hold … shares in firms with larger dividend payouts. This relationship between the tax preferences of institutional shareholders and …

Persistent link: https://www.econbiz.de/10012776448