| dc.creator |
Büttner, Thiess |
|
| dc.creator |
Overesch, Michael |
|
| dc.creator |
Schreiber, Ulrich |
|
| dc.creator |
Wamser, Georg |
|
| dc.date |
2008 |
|
| dc.date.accessioned |
2013-10-16T07:06:29Z |
|
| dc.date.available |
2013-10-16T07:06:29Z |
|
| dc.date.issued |
2013-10-16 |
|
| dc.identifier |
http://hdl.handle.net/10419/19715 |
|
| dc.identifier |
ppn:559685106 |
|
| dc.identifier |
RePEc:zbw:bubdp1:7114 |
|
| dc.identifier.uri |
http://koha.mediu.edu.my:8181/xmlui/handle/10419/19715 |
|
| dc.description |
This paper analyzes the effectiveness of thin-capitalization rules in preventing debt finance by intercompany loans and explores their consequences for corporate decisions. A theoretical discussion emphasizes that limitations of the deduction of interest owed to foreign affiliates would not only affect multinationals' capital structure choice but also investment. An empirical investigation exploits a large firm-level panel dataset of multinationals in order to analyze the impact of thin-capitalization rules on capital structure choice and investment in the OECD and some further European countries in the time period between 1996 and 2004. The results indicate that thin-capitalization rules are effective in curbing tax planning via intercompany loans. However, investment is found to be adversely affected. |
|
| dc.language |
eng |
|
| dc.relation |
Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2008,03 |
|
| dc.rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen |
|
| dc.subject |
G32 |
|
| dc.subject |
H26 |
|
| dc.subject |
H25 |
|
| dc.subject |
ddc:330 |
|
| dc.subject |
Corporate Income Tax |
|
| dc.subject |
Multinationals |
|
| dc.subject |
Leverage |
|
| dc.subject |
Thin-Capitalization Rules |
|
| dc.subject |
Firm-Level Data |
|
| dc.subject |
Multinationales Unternehmen |
|
| dc.subject |
Kapitalstruktur |
|
| dc.subject |
Fremdkapital |
|
| dc.subject |
Steuerrecht |
|
| dc.subject |
Steuerwirkung |
|
| dc.subject |
Internationale Finanzierung |
|
| dc.subject |
Investition |
|
| dc.subject |
Deutschland |
|
| dc.title |
The impact of thin-capitalization rules on multinationals' financing and investment decisions |
|
| dc.type |
doc-type:workingPaper |
|