Research Catalog

Title

Studies in international taxation / edited by Alberto Giovannini, R. Glenn Hubbard, Joel Slemrod.

Publication

Chicago : University of Chicago Press, 1993.

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Holdings

Details

Additional Authors

• Giovannini, Alberto.
• Hubbard, R. Glenn.
• Slemrod, Joel.

Description

ix, 321 pages : illustrations; 24 cm.

Summary

"As the global economy continues to evolve, events such as the unification of European markets have prompted economists and policymakers to consider whether the current system of taxing income is inconsistent with the trend toward liberalized world financial flows and increased international competition. To help assess the effectiveness of existing tax policies and incentives, this volume presents new research on how taxes affect the investment and financing decisions of multinationals today." "The authors examine international financial management, business investment, and international income shifting. The first three papers focus on financial management. Chapter 1 analyzes how tax and non-tax factors affect the relative importance of portfolio equity investments versus foreign direct investments and finds that the composition of equity flows differs dramatically according to tax differences. The authors of the second chapter look at the impact of U.S. and Canadian tax reforms on the financing of U.S. multinationals operating in Canada. Chapter 3 uses new data from 1986 corporate income tax returns to examine the effects of taxes on decisions by foreign subsidiaries to repatriate dividends to U.S. parent corporations." "The next three chapters address international business investment. The authors of Chapter 4 consider why most models fail to show how tax policy affects foreign direct investment, and they offer improved models. Chapter 5 models U.S. tax incentives for the level and location of R&D performed by multinationals, and reveals that changes in the after-tax price of R&D have a significant effect on spending decisions of U.S. multinationals. Chapter 6 offers descriptive evidence from a careful field study of location and sourcing decisions in nine U.S. multinational manufacturing corporations." "The final two papers examine income shifting. In chapter 7, the authors consider the fact that foreign-controlled companies in the United States pay lower taxes than do domestically-controlled companies. Unlike other studies, this one uses firm-level data files, including the actual tax returns filed by foreign-controlled companies. The eighth paper quantitatively assesses the importance of income shifting of U.S. multinationals, using Compustat data for 1984 through 1988 as well as information from annual reports." "This volume will guide the development of new theoretical models in public finance and international economics, as well as inform the ongoing policy debate about reforming the taxation of multinational businesses in the United States and abroad."--BOOK JACKET.

Series Statement

A National Bureau of Economic Research project report

Uniform Title

National Bureau of Economic Research project report.

Subjects

• Income tax > Foreign income
• Capital levy
• International business enterprises > Taxation
• Investments, Foreign > Taxation

Bibliography (note)

• Includes bibliographical references and indexes.

Contents

Introduction / Alberto Giovannini, R. Glenn Hubbard and Joel Slemrod -- 1. Taxes and the Form of Ownership of Foreign Corporate Equity / Roger H. Gordon and Joosung Jun -- Comment / Alberto Giovannini -- 2. Impacts of Canadian and U.S. Tax Reform on the Financing of Canadian Subsidiaries of U.S. Parents / Roy D. Hogg and Jack M. Mintz -- Comment / Neil Bruce -- 3. The Effects of U.S. Tax Policy on the Income Repatriation Patterns of U.S. Multinational Corporations / Rosanne Altshuler and T. Scott Newlon -- 4. Taxation and Foreign Direct Investment in the United States: A Reconsideration of the Evidence / Alan J. Auerbach and Kevin Hassett -- Comment / James M. Poterba -- 5. On the Sensitivity of R&D to Delicate Tax Changes: The Behavior of U.S. Multinationals in the 1980s / James R. Hines, Jr. -- Comment / Bronwyn H. Hall -- 6. The Role of Taxes in Location and Sourcing Decisions / G. Peter Wilson -- Comment / R. Glenn Hubbard -- 7. Explaining the Low Taxable Income of Foreign-Controlled Companies in the United States / Harry Grubert, Timothy Goodspeed and Deborah Swenson -- Comment / Jeffrey K. MacKie-Mason -- 8. Income Shifting in U.S. Multinational Corporations / David Harris, Randall Morck, Joel Slemrod and Bernard Yeung -- Comment / John Mutti.

ISBN

0226297012 (alk. paper)

LCCN

93009797

OCLC

• 27728229
• ocm27728229

Owning Institutions

Columbia University Libraries