This paper examines whether and to what extent repatriation tax costs constrain U.S. multinational companies' (MNCs) distributions to shareholders. During the 1987-2004 sample period, I find repatriation tax costs decrease U.S. MNCs' dividend payments, and the economic magnitude of the effect is...

This study examines whether investors discount the foreign earnings of U.S. multinational corporations in anticipation of future repatriation taxes. Investor pricing of repatriation taxes has become increasingly important because of the decline in foreign statutory tax rates relative to the U.S....

We examine whether reductions in foreign country statutory corporate tax rates affect the competitive environment of U.S. domestic manufacturing firms and how U.S. firms respond. We develop a measure of U.S. domestic firms' exposure to changes in foreign country corporate tax rates and find U.S....

The Organization for Economic Co-operation and Development introduced country-by-country reporting (CbCR) for multinational enterprises (MNEs) to help tax authorities combat tax-motivated income shifting. This study uses confidential tax administrative data from 2011 to 2018 to examine the...

This paper discusses the Organization for Economic Cooperation and Development’s Two- Pillar proposal for changing the global, international corporate tax regime. We focus on the use of financial accounting income as part of these tax rules. We provide a relatively high-level explanation of...