Schindler, Dirk; Schjelderup, Guttorm - Fachbereich Wirtschaftswissenschaften, Universität Konstanz - 2011
Previous theoretical studies on the debt shifting behavior of multinationals have assumed affiliates of multinationals to be wholly owned. We develop a model that allows a multinational firm to determine both the leverage and ownership structure in affiliates endogenously. A main finding is that...