This paper presents the first systematic empirical evidence on transfer pricing in multinational corporations. The authors examine the Canadian petroleum industry, which is dominated by foreign multinationals. The data cover the period 1974-84 and allow the authors to analyze the allegation of...

This paper analyzes the multinational enterprise’s decision to voluntarily disclose information regarding its investments, a choice we term investment transparency. When disclosing investment information, managers must weigh the costs and benefits of reducing asymmetries between the firm and...