In this chapter we analyze how the designation of foreign earnings as “permanently reinvested” outside the US (PRE) is related to subsequent firm growth and market returns. Prior research suggests that firms that hold excess cash in foreign markets to avoid the US corporate income tax...

We investigate the relationship between relationship between U.S. Treasury bill yields and the dividend yield of the S&P 500 in the period before and after the passage of the Jobs Growth Tax Relief Reconciliation Act (JGTRRA) in 2003. The results suggest that there is an upward pressure on the...