The effects of taxation on multinational corporations
Author(s)
Bibliographic Information
The effects of taxation on multinational corporations
（A National Bureau of Economic Research project report）
University of Chicago Press, 1995
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Note
Papers presented at a conference held in January 1994
Includes bibliographical references and indexes
Description and Table of Contents
Description
The tax rules of the United States and other countries have intended and unintended effects on the operations of multinational corporations, influencing everything from the formation and allocation of capital to competitive strategies. The growing importance of international business has led economists to reconsider whether current systems of taxing international income are viable in a world of significant capital market integration and global commercial competition. In an attempt to quantify the effect of tax policy on international investment choices, this volume presents in-depth analyses of the interaction of international tax rules and the investment decisions of multinational enterprises. Ten papers assess the role played by multinational firms and their investment in the US economy and the design of international tax rules for multinational investment; analyze channels through which international tax rules affect the costs of international business activities; and examine ways in which international tax rules affect financing decisions of multinational firms.
As a group, the papers demonstrate that international tax rules have significant effects on firms' investment and other financing decisions.
Table of Contents
Preface Introduction Martin Feldstein, James R. Hines, Jr., R. Glenn Hubbard. 1: Outward Direct Investment and the U.S. Economy Robert E. Lipsey Comment: S. Lael Brainard 2: The Effects of Outbound Foreign Direct Investment on the Domestic Capital Stock Martin Feldstein Comment: Kenneth A. Froot 3: Why Is There Corporate Taxation in a Small Open Economy? The Role of Transfer Pricing and Income Shifting Roger H. Gordon, Jeffrey K. MacKie-Mason. Comment: T. Scott Newlon 4: The Impact of International Tax Rules on the Cost of Capital Joosung Jun Comment: Joel Slemrod 5: The Tax Sensitivity of Foreign Direct Investment: Evidence from Firm-Level Panel Data Jason G. Cummins, R. Glenn Hubbard. Comment: David G. Hartman 6: The Alternative Minimum Tax and the Behavior of Multinational Corporations Andrew B. Lyon, Gerald Silverstein. Comment: Alan J. Auerbach 7: Accounting Standards, Information Flow, and Firm Investment Behavior Jason G. Cummins, Trevor S. Harris, Kevin A. Hassett. Comment: G. Peter Wilson 8: Taxes, Technology Transfer, and the R&D Activities of Multinational Firms James R. Hines, Jr Comment: Adam B. Jaffe 9: Do Repatriation Taxes Matter? Evidence from the Tax Returns of U.S. Multinationals Rosanne Altshuler, T. Scott Newlon, William C. Randolph. Comment: William M. Gentry 10: Interest Allocation Rules, Financing Patterns, and the Operations of U.S. Multinationals Kenneth A. Froot, James R. Hines, Jr. Comment: Julie H. Collins Contributors Author Index Subject Index
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