This study examines foreign R&D in Shanghai and reveals that Shanghai has become one of the most concentrated centers of foreign R&D in China. Through interviews of 18 foreign R&D facilities in Shanghai, the study confirms the findings from previous studies that the majority of foreign R&D in...

From 2009 to 2010, 98 percent of Google's and 99 percent of Oracle's subsidiaries disappeared from the Exhibit 21s filed with their SEC Form 10Ks. However, a March 2012 search of available public company registries revealed that at least 65 percent of the missing subsidiaries remained active as...

We examine the value to U.S. multinational firms of shifting income from high- to low-tax jurisdictions. Such shifting is common and sizable, yet the shareholder consequences are heretofore unknown. Using a novel income shifting measure and identification strategy from Demeré and Gramlich...