Based on a large data set containing over 300,000 Chinese firms and detailed micro-level information, this paper conducts an empirical analysis of firms in distress. We focus on economic distress rather than financial distress; we study unlisted firms in an emerging market rather than listed...

This paper analyzes the optimal level of transfer pricing manipulation when the expected tax penalty is a function of the tax enforcement and the market price parameter, and the multinational enterprise is subjected to distinct rules of foreign profit taxation. The application of the arm's...

The article reflects on the taxation of the digitalized economy and the recent proposals by some authors and the EU Commission to suggest that other options are available that will create less distortions and close the loopholes left after BEPS

Almost 140 countries have agreed to reallocate the rights to tax international corporate profits and to introduce minimum tax rates. The agreed plan is the product of pragmatism and a search for consensus, but ambitious. It includes steps towards unitary taxation to be established by a...

Over a quarter of the world's population lives in economies that have undertaken transitions from central planning to market economies. These transitions entail far-reaching and complex changes in social, economic and political institutions and have had widely divergent outcomes. Important...