Desai, Mihir A.; Foley, C. Fritz; Hines, James R. - In: Review of Financial Studies 19 (2006) 4, pp. 1433-1464
This article evaluates the impact of capital controls and their liberalization on the activities of US multinational firms. These firms attempt to circumvent capital controls by reducing reported local profitability and increasing the frequency of dividend repatriations. As a result, the...