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U.S. Worldwide Taxation and Domestic Mergers and Acquisitions

Harris, Jeremiah - 2018

This study shows that domestic mergers and acquisitions (M&A) were inhibited by the U.S.'s worldwide tax policy on foreign-earned income. Double Irish structures, a complex web of subsidiaries that reduce foreign tax rates and therefore increase potential repatriation tax rates, are associated...

Persistent link: https://www.econbiz.de/10012934507

How does the Market for Corporate Control Impact Tax Avoidance? Evidence from International M&A Laws

Hu, Jinshuai; Li, Siqi; Shevlin, Terry J. - 2021

corporate tax planning. Exploiting the staggered enactment of M&A laws across countries that increased the threat of takeover as … avoidance following the takeover law passage. Our analysis suggests that reduced management private benefits consumption (i … strategies, is the likely mechanism through which takeover laws impact tax avoidance. Collectively, our findings extend the …

Persistent link: https://www.econbiz.de/10013220207

Spillover Effects of Cross-Border Bank Acquisitions on Systemic Risk

Sedunov, John; Taboada, Alvaro G. - 2021

We examine the spillover and direct effects of cross-border bank M&As on the systemic risk of banks in the target’s country. We document that higher cross-border bank M&A activity is associated with higher systemic risk for peer banks, while target banks exhibit a decrease in systemic risk...

Persistent link: https://www.econbiz.de/10013222025

Tax Avoidance through Cross-Border Mergers and Acquisitions

Meier, Jean-Marie; Smith, Jake - 2021

While tax havens are known as custodians and intermediaries of assets, this is the first paper to document that havens affect the ownership of assets on a large scale. We investigate cross-border, tax-haven mergers and acquisitions (M&A) using hand-collected data on tax residence laws and a...

Persistent link: https://www.econbiz.de/10013234797

'U.S. Worldwide Taxation and Domestic Mergers and Acquisitions' A Discussion

Chen, Novia (Xi); Shevlin, Terry J. - 2021

Harris and O’Brien (2018) investigate whether U.S. tax policy distorts U.S. multinationals’ (MNCs) investment. They find that MNCs facing higher repatriation tax costs engage in fewer domestic acquisitions. The study re-examines the results in two prior studies that found no effect (Hanlon...

Persistent link: https://www.econbiz.de/10013248899

Fiscal federalism and foreign direct investment : an empirical analysis

Feld, Lars P.; Köhler, Ekkehard A.; Palhuca, Leonardo; … - 2022

Previous empirical studies suggest that decentralization, measured by the number of government layers, is associated with less foreign direct investment (FDI). With an improved dataset on tax autonomy of sub-federal government tiers, we present evidence that fiscal decentralization (de facto)...

Persistent link: https://www.econbiz.de/10013186110

A World Of Mergers and Acquisitions In The Entertainment Sector In The 21St Century. From The Failure of AOL -Timewarner to The Consolidation of The Sector By The Walt Disney Compa...

Miedziak, Rafal - 2022

This paper presents selected case studies of mergers and acquisitions in the entertainment sector that took place in the 21st century. The analysis carried out allows us to conclude that M&A processes in the entertainment sector are as complex as M&A processes in technology industries and...

Persistent link: https://www.econbiz.de/10013290275

Emission Trading Schemes and Cross-Border Mergers and Acquisitions

Chen, Yajie; Guo, Kun; Ji, Qiang; Zhang, Dayong - 2022

The emission trading scheme (ETS) provides a market mechanism to mitigate carbon emissions and has been introduced in many countries. Its fundamental idea is to make carbon emissions costly. Consequently, firms undertaking cross-border expansions may have to consider this extra cost when...

Persistent link: https://www.econbiz.de/10013291148

International Evidence on Value Creation in Private Equity Transactions

Puche, Benjamin - 2015

Understanding value creation at the transaction level is at the heart of explaining private equity (PE) returns. Taking advantage of a proprietary sample of 2,029 international buyout deals executed between 1984 and 2013 we provide detailed evidence on financial, market and operational value...

Persistent link: https://www.econbiz.de/10013032461

The Dynamics of International Mergers and Acquisitions

Makaew, Tanakorn - 2010

Over the past two decades, cross-border M&As have totaled over eight trillion dollars and have fluctuated widely from year to year. In this paper, I study the dynamic patterns of cross-border mergers and make two distinct contributions:First, I present key facts about international mergers: (1)...

Persistent link: https://www.econbiz.de/10013146698