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Profit Shifting and Tax - Rate Uncertainty

Delis, Manthos D. - 2020

Using firm-level data for 1,084 parent firms in 24 countries and for 9,497 subsidiaries in 54 countries, we show that tax-motivated profit shifting is larger among subsidiaries in countries that have stable corporate tax rates over time. Our findings further suggest that firms move away from...

Persistent link: https://www.econbiz.de/10012855018

Tax attractiveness and the allocation of risk within multinationals

Dinkelbach, Andreas - 2015

This paper analyzes the impact of countries' tax attractiveness on the allocation of risk within multinational groups. Our dataset contains subsidiaries located in 32 European countries and owned by parents from 90 different countries globally. We show that tax symmetry positively influences the...

Persistent link: https://www.econbiz.de/10010511365

Political Risk and International Valuation

Bekaert, Geert - 2015

Measuring the impact of political risk on investment projects is one of the most vexing issues in international business. One popular approach is to assume that the sovereign yield spread captures political risk and to augment the project discount rate by this spread. We show that this approach...

Persistent link: https://www.econbiz.de/10013015661

Foreign employment, income shifting, and tax uncertainty

Drake, Katharine D.; Goldman, Nathan C.; Murphy, Frank - In: The accounting review : a publication of the American … 97 (2022) 2, pp. 183-212

Persistent link: https://www.econbiz.de/10013198721

Exports Versus Multinational Production Under Nominal Uncertainty

Lewis, Logan T. - 2011

exports in their own currency in the model. Home exporters gain an advantage over home multinationals: during a foreign …

Persistent link: https://www.econbiz.de/10013117585

Risk, Returns, and Multinational Production

Fillat, Jose L. - 2010

market because they would forgo the option premium (sunk cost) that they paid to become multinationals. The theory provides a … higher returns and earnings yields than non-multinational firms. Within non-multinationals, exporters tend to have higher … multinationals. Multinational firms are more exposed to risk: following a negative shock, they are reluctant to exit the foreign …

Persistent link: https://www.econbiz.de/10013146784

Foreign Employment, Income Shifting, and Tax Uncertainty

Drake, Katharine D. - 2020

We examine the effect of foreign employment on two outcomes—income shifting and the tax uncertainty of foreign transactions. Using a hand-collected sample of employment disclosures, we partition our sample into firm-years with a higher or lower degree of foreign employment. Using two distinct...

Persistent link: https://www.econbiz.de/10012851592

Foreign direct investment, legal uncertainty and corporate income taxation

Zagler, Martin - In: International economics : a journal published by CEPII … 173 (2023), pp. 19-28

Persistent link: https://www.econbiz.de/10014373657

Cash-flow business taxation revisited : bankruptcy, risk aversion and asymmetric information

Boadway, Robin W.; Sato, Motohiro; Tremblay, Jean-François - 2016

It is well-known that cash-flow business taxes with full loss-offset, and their present-value equivalents, are neutral with respect to firms' investment decisions when firms are riskneutral and there are no distortions. We study the effects of cash-flow business taxation when there is bankruptcy...

Persistent link: https://www.econbiz.de/10011572404

Pay for tax certainty? : advance tax rulings for risky investment under multi-dimensional tax uncertainty

Chen, An; Hieber, Peter; Sureth, Caren - 2022

In this study, we use advance tax rulings (ATR) to investigate the impact of fee-based tax certainty on risky investment decisions of a firm under both cash flow and tax uncertainty. We model and analyze the multi-dimensional nature of tax uncertainty from tax reforms and tax audits in expected...

Persistent link: https://www.econbiz.de/10013460094

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