This paper analyzes the impact of taxes and lending conditions on the financial structure of multinationals' foreign affiliates. The empirical analysis employs a large panel of affiliates of German multinationals in 26 countries in the period from 1996 until 2003. In accordance with the...

This paper analyzes the effectiveness of limitations of the tax deductibility of interest expenses for multinational corporations, so-called thin-capitalization rules. The empirical investigation exploits a large micro-level panel dataset of multinational firms to analyze the effects of...

This paper analyzes how corporate taxation affects the capital structure of subsidiaries of multinational companies. The emphasis is on firm characteristics that proxy for the tax status of a subsidiary, which is crucial for the tax responsiveness of firms. Based on a comprehensive panel of...

The EU’s cohesion policy should now be confluent with the goals of the Lisbon strategy by promoting growth and employment. In this context, the promotion of a concept called regional innovation system has recently become important in the EU for guaranteeing long-term regional economic growth....

<heading format="display" id="h1" implicit="yes" level="1">Abstract</heading> This paper investigates whether different types of FDI are asymmetrically affected by corporate taxation. We classify investment projects according to several characteristics such as the general motivation for FDI, the type of business activity, or the degree of internationalisation of...

This article investigates tax-planning behaviour by means of inter-company finance and the effectiveness of government countermeasures via thin-capitalization rules. A simple theoretical model which considers the financing decision of a multinational company is used to obtain empirical...

This paper compares the home-market performance of German multinational enterprises (MNEs) and national firms, both before and after switching from national to multinational activities. Regarding the former case, our results show that future multinationals outperform domestic firms. When...

This article investigates how company taxation affects German foreign direct investment (FDI) in European Union (EU) accession countries. In 2004 and 2007, 10 former socialist eastern European countries joined the EU. Although the EU integration is associated with increasingly favourable...

Controlled foreign company (CFC) rules are frequently imposed by countries as part of their anti-tax-avoidance legislation. This paper aims at quantifying their impact on foreign investments by utilizing a regression discontinuity design and the universe of German foreign investments notified to...

In diesem Beitrag berichten wir über die Resultate einer Studie, welche die Effekte von ökonomischen Integrationsabkommen auf Aussenhandelsströme und Direktinvestitionen untersucht. Dabei werden auch die Faktoren berücksichtigt, die einen Einfluss darauf haben, wer mit wem welche Art...