This paper studies how variations in tax rates and profitability affect the (unconditional) quantiles of the distribution of the leverage of European foreign owned subsidiaries in the presence of unobserved company characteristics, possibly correlated with their observable dimensions. To achieve...

Global temperature has gradually been warming, which has had different impacts on economic activities in various countries. How to mitigate the negative impact of global climate change on economic development has become an important issue of concern for both governments and academia. In this...