This paper stresses the special role of multinational headquarters in corporate profit shifting strategies. Using a large panel of European firms, we show that multinational enterprises (MNEs) are reluctant to shift profits away from their headquarters even if these are located in high-tax...

We study profitable firms with no tax expenses. We find that the proportion of profitable firms that owe zero taxes (zero-tax firms) has increased substantially over the past 70 years, accounting for almost 15% of listed U.S. firms in recent years. Zero-tax firms thus represent a major group of...

We use data multinational firms provide to the Internal Revenue Service regarding their foreign subsidiary locations to explore whether some firms fail to publicly disclose subsidiaries in some countries, even when the subsidiaries are significant and should be disclosed per Security and...

SMEs play an important role in the world economy and contribute substantially to income, output and employment. Reaching global markets is a dream for every. Opening new markets enables firms to increase their sales and hence enabling growth, through increased customer base. Risk is spread by...

We study the make-or-buy decision of oligopolistic firms in an industry in which final good production requires specialized inputs. Firms' mode of operation decision depends on both the incentive to economize on costs and on strategic considerations. We explore the strategic incentives to...

We bridge the organisational economics and industrial economics literatures on the vertical boundaries of the firm by contextualising the transaction cost approach to the make-or-buy decision within an oligopolistic market structure. Firms invest in the quality of the intermediate resulting in...