When positive and negative income are treated asymmetrically under a corporate income tax (CIT) without allowance for group taxation, a group of affi liated corporations may engage in tax avoidance by shifting income from profi table to unprofi table subsidiaries for the sole purpose of...

A case study of the Japanese bank recapitalization by Hoshi and Kashyap (2005) identified a bank that overstated the progress of required personnel downsizing by shifting employees to subsidiaries. This paper asks if the recapitalization program had a design flaw. We focus on regional banks with...

When a group of affiliated corporations have the option to file a single tax return based on a combined income, what types of groups would take up the option? This study empirically analyses decisions to participate in a single-jurisdiction consolidated tax filing. The data consists of 2,782...

When a group of affiliated corporations have the option to file a single tax return based on a combined income, what types of groups would take up the option? This study empirically analyses decisions to participate in a single-jurisdiction consolidated tax filing. The data consists of 2,782...

A consolidated filing of corporate income tax may induce firms to manipulate ownership interests in subsidiaries but no study has systematically examined such behavioral responses. This paper examines empirically inclusions/exclusions of subsidiaries to/from consolidation groups in a...

This paper empirically examines the effectiveness of a safeguard tariff in the Japanese market for imported pork parts. The goals are, first, to consider a refinement to the traditional market-based method for evasion detection, and, second, to apply the method in a setting where evasion is...

It is common to define benefit eligibility for small business policies by restrictions on the fi rm size. This paper investigates the incentives for a large fi rm to masquerade as many small firms by separately incorporating business segments, focusing on the case of the Japanese value-added...

We use financial information on banks from Asia, Europe, North America and Oceania to examine the role of wholesale funding on the transmission of financial crises to bank lending, as well as to study the response of financial institutions in different regions during the crises. We consider the...

Divergent interests of bank managers and financial regulators potentially compromise the efficacy of bank rescue operations. This paper analyses an agency problem encountered in a capital injection program implemented in Japan. We hypothesize that the operationfs requirement to downsize lead...

When positive and negative income are treated asymmetrically under a corporate income tax (CIT) without allowance for group taxation, a group of affi liated corporations may engage in tax avoidance by shifting income from profi table to unprofi table subsidiaries for the sole purpose of...