This article explains the transactions, agreements, and accounting that Chevron, Texaco, and the government of Indonesia used to structure transactions that may have avoided billions of dollars in U.S. income taxes. Although ChevronTexaco became a merged entity on October 9, 2001, for many years...

This paper explains the transactions, agreements and accounting that Chevron, Texaco, and the Government of Indonesia used to structure transactions that avoided billions in U.S. income taxes. Although ChevronTexaco became a merged entity on October 9, 2001, for many years Chevron and Texaco...

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...

Using data on foreign institutional investors’ China equity holdings, we show that U.S. institutional investors avoid investing in China’s defense industries when American public’s attention to China-U.S. tension and ideological differences is high, especially during the Trump...