For more than 50 years, researchers around the world have been searching for a solution to Blacks famous 'dividend-puzzle'. However, despite tremendous efforts in different fields of economics, the influence of taxation on the distribution policy of firms has remained elusive and is still...

This paper analyzes the impact of taxation on the location of patents within multinational groups. Based on groups with parents from 36 countries globally and their patent holdings in 36 European countries, we provide insight into the determinants of three subsequent decisions: (1) the decision...

[Einführung] In den Medien und der Öffentlichkeit werden internationale Steuervermeidung von Konzernen und Steuerhinterziehung im Allgemeinen lautstark diskutiert und durch prominente Einzelbeispiele von vorwiegend US-amerikanischen Konzernen 'anekdotisch' bewiesen. Dabei kann sogar ein...

The question of why some companies pay more taxes than others is a widely investigated topic of interest. One of the famous suspect explanations is a phenomenon called tax avoidance. We develop a holistic theoretical concept of influences on corporate tax planning through a series of 19 in-depth...

This paper analyzes whether taxation has an influence on the location decisions of multinational enterprises. As a tax measure, we employ the Tax Attractiveness Index (see Keller and Schanz 2013). This index covers 18 different tax factors, such as the taxation of dividends and capital gains,...

This paper develops a new tax measure - the Tax Attractiveness Index - reflecting the attractiveness of a country's tax environment and the tax planning opportunities that are offered. Specifically, the Tax Attractiveness Index covers 16 different components of real-world tax systems, such as...

Dieser Beitrag befasst sich mit dem Verhältnis der handelsrechtlichen Gewinnermittlung zur steuerlichen Einkommensermittlung in Deutschland, Europa und den USA. Es werden die Zwecke der Rechenwerke diskutiert, sowie die Maßgeblichkeit der Handelsbilanz für die Steuerbilanz und deren...

In this study we analyse stock price reactions to share buyback announcements from a tax perspective in Germany. To determine the influence of taxes on stock prices on the announcement day of share buybacks two different tax regimes - the corporate imputation system and the classical corporate...

This paper investigates the impact of the 2001 tax reform in Germany on dividend announcement returns. With this major tax reform, the full imputation system was replaced by the half-income system, which had a significant impact on the relative taxation of dividends and capital gains for most...