This study analyzes whether tax incentives play a role in the geographical allocation of U.S. trademark rights within large multinational enterprises. Considering the S&P 500 firms, we find a strong home country concentration of U.S. trademark ownership. Still, the probability to offshore legal...

Our study analyzes the relationship between public disclosure of group structures in Exhibit 21 and international tax avoidance of U.S. multinational firms. Several U.S. multinational enterprises have removed a substantial number of foreign subsidiaries from their Exhibit 21 since 2010. Our...