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[null,"1.","Record Nr.",null,"UNINA9910452741103321"]
[null,null,"Autore",null,"Gu Grace"]
[null,null,"Titolo",null,"Taxation and leverage in international banking [[electronic resource] /] / prepared by Grace Weishi Gu, Ruud de Mooij, and Tigran  Poghosyan"]
[null,null,"Pubbl/distr/stampa",null,"Washington, D.C., : International Monetary Fund, c2012"]
[null,null,"ISBN",null,"1-4755-5221-1"]
[{"$nulls":4},"1-4755-4068-X"]
[null,null,"Descrizione fisica",null,"1 online resource (36 p.)"]
[null,null,"Collana",null,"IMF working paper ; ; WP/12/281"]
[null,null,"Soggetti",null,"Taxation - Econometric models"]
[{"$nulls":4},"Financial leverage - Econometric models"]
[{"$nulls":4},"Electronic books."]
[null,null,"Lingua di pubblicazione",null,"Inglese"]
[null,null,"Formato",null,"Materiale a stampa"]
[null,null,null,"Livello bibliografico","Monografia"]
[null,null,null,"Note generali","Description based upon print version of record."]
[null,null,null,"Nota di bibliografia","Includes bibliographical references."]
[null,null,"Nota di contenuto",null,"Cover; Contents; I. Introduction; II. Theoretical Model; III. Empirical Methodology and Data; A. Methodology; B. Data; IV. Results; A. Baseline Regressions; B. Robustness Checks; C. Extension: Capital Tightness; V. Conclusions; References; Technical Appendix; Figures; 1. Bank Leverage Histogram; Tables; 1. Variable Source and Construction; 2. Summary Statistics; 3. Correlations; 4. Number of Banks; 5. Average Financial Leverage and Tax Rates; 6. Baseline Estimation Results; 7. Robustness Check Estimation Results: Standard Errors; 8. Robustness Check Estimation Results: Alternatives"]
[{"$nulls":4},"9. Robustness Check Estimation Results: Leverage Skewness and Tax Trend 10. Robustness Check Estimation Results: Subsamples; 11. Estimation Results: Capital Tightness"]
[null,null,null,"Sommario/riassunto","This paper explores how corporate taxes affect the financial structure of multinational banks. Guided by a simple theory of optimal capital structure it tests (i) whether corporate taxes induce subsidiary banks to raise their debt-asset ratio in light of the traditional debt bias; and (ii) whether international corporate tax differentials vis-a-vis foreign subsidiary banks affect the intra-bank capital structure through international debt shifting. Using a novel subsidiary-level dataset for 558 commercial bank subsidiaries of the 86 largest multinational banks in the world, we find that taxes"]