| dc.creator |
Mintz, Jack |
|
| dc.creator |
Weichenrieder, Alfons J. |
|
| dc.date |
2005 |
|
| dc.date.accessioned |
2013-10-16T07:02:46Z |
|
| dc.date.available |
2013-10-16T07:02:46Z |
|
| dc.date.issued |
2013-10-16 |
|
| dc.identifier |
http://hdl.handle.net/10419/19076 |
|
| dc.identifier |
ppn:509697992 |
|
| dc.identifier.uri |
http://koha.mediu.edu.my:8181/xmlui/handle/10419/19076 |
|
| dc.description |
The paper analyzes the financial structure of outbound FDI during the period 1996-2002 by drawing on up to 54,022 firm-year observations of 13,758 German-owned subsidiaries. We find that the tax rate in the host country has a sizeable and significantly positive effect on leverage for wholly-owned foreign unlike partially-owned foreign companies. Most of the effect comes from increased intra-company borrowing, while third-party debt is not significantly affected by tax differences. While wholly-owned subsidiaries react more sensitively to tax rate differentials, they are less sensitive to macroeconomic influences like interest rates. |
|
| dc.language |
eng |
|
| dc.relation |
CESifo working papers 1612 |
|
| dc.rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen |
|
| dc.subject |
H25 |
|
| dc.subject |
F23 |
|
| dc.subject |
ddc:330 |
|
| dc.subject |
foreign direct investment |
|
| dc.subject |
financial structure |
|
| dc.subject |
capital structure |
|
| dc.subject |
taxation |
|
| dc.subject |
Auslandsniederlassung |
|
| dc.subject |
Kapitalstruktur |
|
| dc.subject |
Internationale Finanzierung |
|
| dc.subject |
Unternehmensbesteuerung |
|
| dc.subject |
Steuerbelastung |
|
| dc.subject |
Direktinvestition |
|
| dc.subject |
Deutsch |
|
| dc.title |
Taxation and the financial structure of German outbound FDI |
|
| dc.type |
doc-type:workingPaper |
|