The effects of taxation on multinational corporations / / edited by Martin Feldstein, James R. Hines, Jr., and R. Glenn Hubbard

• Record Nr.: UNINA9910952269403321
• Pubbl/distr/stampa: Chicago, : University of Chicago Press, c1995
• ISBN: 1-281-22336-0; 9786611223366; 0-226-24187-4
• Edizione: [1st ed.]
• Descrizione fisica: 1 online resource (338 p.)
• Collana: A National Bureau of Economic Research project report
• Altri autori (Persone): FeldsteinMartin S; HinesJames R; HubbardR. Glenn
• Disciplina: 336.24/3
• Soggetti: Capital market; International business enterprises - Finance; International business enterprises - Taxation; Investments, Foreign - Taxation
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Papers presented at a conference held in January 1994.
• Nota di bibliografia: Includes bibliographical references and indexes.
• Nota di contenuto: Front matter -- Contents -- Preface -- Introduction -- 1. Outward Direct Investment and the U.S. Economy -- 2. The Effects of Outbound Foreign Direct Investment on the Domestic Capital Stock -- 3. Why Is There Corporate Taxation in a Small Open Economy? The Role of Transfer Pricing and Income Shifting -- 4. The Impact of International Tax Rules on the Cost of Capital -- 5. The Tax Sensitivity of Foreign Direct Investment: Evidence from Firm-Level Panel Data -- 6. The Alternative Minimum Tax and the Behavior of Multinational Corporations -- 7. Accounting Standards, Information Flow, and Firm Investment Behavior -- 8. Taxes, Technology Transfer, and the R&D Activities of Multinational Firms -- 9. Do Repatriation Taxes Matter? Evidence from the Tax Returns of U.S. Multinationals -- 10 .Interest Allocation Rules, Financing Patterns, and the Operations of U.S. Multinationals -- Contributors -- Author Index -- Subject Index
• Sommario/riassunto: The tax rules of the United States and other countries have intended and unintended effects on the operations of multinational corporations, ; influencing everything from the formation and allocation of capital to competitive strategies. The growing importance of international business has led economists to reconsider whether current systems of taxing international income are viable in a world of significant capital market integration and global commercial competition. In an attempt to quantify the effect of tax policy on international investment choices, this volume presents in-depth analyses of the interaction of international tax rules and the investment decisions of multinational enterprises. Ten papers assess the role played by multinational firms and their investment in the U.S. economy and the design of international tax rules for multinational investment; analyze channels through which international tax rules affect the costs of international business activities; and examine ways in which international tax rules affect financing decisions of multinational firms. As a group, the papers demonstrate that international tax rules have significant effects on firms' investment and other financing decisions.