, the leader’s R&D effort increases with the gap as she is trying to avoid competition in the future. When firms gain … causes an equilibrium where the incentives to innovate are highest when competition is most intense. -- competition …

accumulation the leader's R&D effort increases with the gap as she is trying to avoid competition in the future. When firms gain … causes an equilibrium where the incentives to innovate are highest when competition is most intense. -- competition …

taxes impair subsidiary-level investment efficiency. Consistent with internal agency conflicts between the central …-level investment efficiency while reducing the level of investment. Our paper provides timely empirical evidence to inform expectations …

ownership and capital demand adjustment in host countries. The author estimates a dynamic structural model of investment on a …

Theory recommends aligning the tax treatment of debt and equity. A few countries, notably Belgium, have introduced an …, passive investment, and active investment of multinational firms, using high-quality administrative data on virtually all … multinational affiliates. Additionally, an ACE increases intra-group lending and other forms of passive investment but has no …

' investment, growth and financial constraints. Combining propensity score matching with a difference-in-differences estimator, our …