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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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Official URL: https://doi.org/10.1016/j.jpubeco.2019.05.005
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 | ||||||||
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| Divisions: | Faculty of Social Sciences > Economics | ||||||||
| Journal or Publication Title: | Journal of Public Economics | ||||||||
| Publisher: | Elsevier | ||||||||
| ISSN: | 0047-2727 | ||||||||
| Official Date: | August 2019 | ||||||||
| Dates: |
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| 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 | ||||||||
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