Langenmayr, Dominika; Reiter, Franz - In: The Scandinavian Journal of Economics 124 (2022) 3, pp. 797-837
Little is known about how banks shift profits to low‐tax countries. Because of their specific business model, banks use other profit‐shifting channels than non‐financial firms. We propose a novel and bank‐specific method of profit shifting: the strategic relocation of proprietary trading...