"U.S. worldwide taxation and domestic mergers and acquisitions" : a discussion Novia X. Chen, Terry Shevlin
By: Chen, Novia X
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Contributor(s): Shevlin, Terry.
Material type: 
ArticlePublisher: 2018Subject(s): POLITICA FISCAL | EMPRESAS | CONCENTRACION | ESTADOS UNIDOS | MODELOS ECONOMETRICOS
In:
Journal of Accounting and Economics v. 66, Issue 2-3, November- December 2018, p. 439-447Summary: 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 et al. 2015) and a positive effect (Martin et al. 2015) by introducing a new proxy for repatriation tax costs: A binary variable for whether the MNC uses the Double Irish structure. We critique the theory underlying the prediction as well as the proxy. We conclude that caution should be exercised in taking the results at face value.
| Item type | Current location | Home library | Call number | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
| Recursos electrónicos | IEF | IEF | OP 1441/2018/66/2/3-2 (Browse shelf) | Available | OP 1441/2018/66/2/3-2 |
Disponible únicamente en formato PDF en el repositorio de la Biblioteca del IEF con el nombre: 1441-2018-2-3CHE.
Resumen.
Bibliografía.
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 et al. 2015) and a positive effect (Martin et al. 2015) by introducing a new proxy for repatriation tax costs: A binary variable for whether the MNC uses the Double Irish structure. We critique the theory underlying the prediction as well as the proxy. We conclude that caution should be exercised in taking the results at face value.
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