Arulampalam, Wiji, Devereux, Michael P. and Liberini, Federica (2019) Taxes and the location of targets. Journal of Public Economics, 176 . pp. 161-178. doi:10.1016/j.jpubeco.2019.05.005

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Abstract

We use rm-level data to investigate the impact of taxes on the international loca- tion of targets in M&A, allowing for domestic acquisitions and heterogeneous responses by companies. The statutory tax rate in the target country is found to have a negative impact on the probability of an acquisition in that country. In addition, the estimated size of the e ect is found to depend on whether (i) acquirer is a domestic or a multina- tional enterprise; (ii) the acquisition is domestic or cross-border; and (iii) the acquirer's country has a worldwide or territorial tax system.

Item Type:	Journal Article
Divisions:	Faculty of Social Sciences > Economics
Journal or Publication Title:	Journal of Public Economics
Publisher:	Elsevier
ISSN:	0047-2727
Official Date:	August 2019
Dates:	Date Event August 2019 Published 17 July 2019 Available 31 May 2019 Accepted
Date of first compliant deposit:	31 May 2019
Volume:	176
Page Range:	pp. 161-178
DOI:	10.1016/j.jpubeco.2019.05.005
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access
Related URLs:	Publisher

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