This paper develops a theoretical model of multinational firms with an internal capital market. Main reasons for the emergence of such a market are tax avoidance through debt shifting and the existence of institutional weaknesses and financial frictions across host countries. The model serves to...

Die Einkunftsabgrenzung zwischen international verbundenen Unternehmen hat sich zu einem Dauerthema des internationalen Steuerrechts entwickelt. Neben den sich verändernden internationalen Rahmenbedingungen beeinflussen auf nationaler Ebene Gesetzgeber, Rechtsprechung und Finanzverwaltung...

In times of global markets, increasing competition and short product life cycles the effective and efficient management of industrial research and development (R&D) activities is of central importance for companies as well as for the whole economy. The efficient allocation of scarce R&D...