This study aims to examine the effect of exchange rate fluctuations and credit supply on the dividend repatriation policy of foreign subsidiaries of U.S. multinational corporations (MNCs) around the world. The difference generalised method of moments (GMM) estimator was applied to estimate the...

We analyze the optimal debt structure of multinational corporations choosing between centralized or decentralized borrowing. We identify how this choice is affected by creditor rights and bankruptcy costs, taking into account managerial incentives and coinsurance considerations. We find that...

During the past seven years, Swiss-EU economic relations have deteriorated, with the vote by the Swiss people in 2014 in favor of immigration limits bringing matters to a head. Using the latest available data on the financial performance of US multinationals operating across Europe, this paper...

After nearly a decade of profound economic changes and a market transformation, the countries in Central and Eastern Europe now face the challenge of development and sustainable growth. The development priorities include achieving a high income growth for their economies by raising investment...

After nearly a decade of profound economic changes and a market transformation the countries in Central and Eastern Europe now face the challenge of development and sustainable growth. The development priorities include achieving a high income growth for their economies by raising investment...

There is a growing concern that governments lose substantial corporate tax revenue due to transfer pricing and debt shifting strategies. Existing literature studies debt shifting and transfer pricing separately. In practice, however, the choice of debt-to-asset ratios in affiliates and the...

The paper reports the results of a survey of top executives of Russian manufacturing subsidiaries of multinational corporations (MNCs). We reveal the prevailing types of job contracts and the use of monetary and non-monetary benefits, and find the similarities with and differences from such...

No abstract.