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The impact of thin-capitalization rules on multinationals' financing and investment decisions

Büttner, Thiess; Overesch, Michael; Schreiber, Ulrich; … - 2008

This paper analyzes the effectiveness of thin-capitalization rules in preventing debt finance by intercompany loans and explores their consequences for corporate decisions. A theoretical discussion emphasizes that limitations of the deduction of interest owed to foreign affiliates would not only...

Persistent link: https://www.econbiz.de/10010295875

The Effective Tax Burden of Companies and on Highly Skilled Manpower: Tax Policy Strategies in a Globalized Economy

Elschner, Christina; Lammersen, Lothar; Overesch, Michael; … - 2005

Company taxes and taxes on highly skilled labour both influence the attractiveness of a particular region as a location …

Persistent link: https://www.econbiz.de/10010297438

Taxation and capital structure choice: evidence from a panel of German multinationals

Büttner, Thiess; Overesch, Michael; Schreiber, Ulrich; … - 2006

This paper analyzes the impact of taxes and lending conditions on the financial structure of multinationals? foreign … from 1996 until 2003. In accordance with the theoretical predictions, the effect of local taxes on leverage is positive for …

Persistent link: https://www.econbiz.de/10010297838

The Impact of Thin-Capitalization Rules on Multinationals? Financing and Investment Decisions

Schreiber, Ulrich; Overesch, Michael; Büttner, Thiess; … - 2006

sensitive to taxes if debt finance is restricted. …

Persistent link: https://www.econbiz.de/10010297839

German inbound investment, corporate tax planning, and thin-capitalization rules: a difference-in-differences approach

Overesch, Michael; Wamser, Georg - 2006

This paper investigates tax planning behavior by means of inter-company finance and the effectiveness of fighting back … company, is used to obtain empirical implications. The empirical analysis, based on German inbound investment data from 1996 … until 2004, supports a significant impact of tax rate differences on the use of intra-company debt. The effectiveness of the …

Persistent link: https://www.econbiz.de/10010297845

Transfer pricing of intrafirm sales as a profit shifting channel: evidence from German firm data

Overesch, Michael - 2006

channel of company tax planning. A simple theoretical model, considering profit shifting activities of a multinational company …

Persistent link: https://www.econbiz.de/10010297855

The Effects of Multinationals? Profit Shifting Activities on Real Investments

Overesch, Michael - 2007

This paper investigates whether the size of multinationals? real investments in a high-tax country is affected by profit shifting activities. A simple theoretical analysis shows that tax rates abroad impact the cost of capital in the presence of profit shifting activities of multinational...

Persistent link: https://www.econbiz.de/10010297971

The Impact of Personal and Corporate Taxation on Capital Structure Choices

Voeller, Dennis; Overesch, Michael - 2008

debt has the expected significant positive impact on a company's financial leverage. Particularly, we find evidence that … analysis confirms that not only corporate taxes are relevant for corporate financial planning, but variation in capital income …

Persistent link: https://www.econbiz.de/10010298029

Rate Cutting Tax Reforms and Corporate Tax Competition in Europe

Heinemann, Friedrich; Overesch, Michael; Rincke, Johannes - 2008

the country's own inherited tax and taxes in neighboring countries. Using comprehensive data on corporate tax reforms in …

Persistent link: https://www.econbiz.de/10010298038

Investment impact of tax loss treatment: Empirical insights from a panel of multinationals

Dreßler, Daniel; Overesch, Michael - 2010

We analyze the impact of tax loss treatment on the size and structure of multinational investments. Basically, two effects of tax loss treatment can be expected. First, firms make their investment decisions in the face of potential future losses. Then, the various types of conceivable loss...

Persistent link: https://www.econbiz.de/10010303806