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Taxes and the location of targets
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Arulampalam, Wiji, Devereux, Michael P. and Liberini, Federica (2018) Taxes and the location of targets. Working Paper. Coventry: University of Warwick. Department of Economics. Warwick economics research papers series (WERPS), 1168 . (Unpublished)
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Official URL: https://warwick.ac.uk/fac/soc/economics/research/w...
Abstract
We use firm-level data to investigate the impact of taxes on the international location of targets in M&A, allowing for 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 effect is found to depend on whether (i) acquirer is a domestic or a multinational enterprise; (ii) the acquisition is domestic or cross-border; and (iii) the acquirer's country has a worldwide or territorial tax system.
| Item Type: | Working or Discussion Paper (Working Paper) | |||||||||
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| Subjects: | H Social Sciences > HG Finance | |||||||||
| Divisions: | Faculty of Social Sciences > Economics | |||||||||
| Library of Congress Subject Headings (LCSH): | Investments, Foreign -- Taxation, Consolidation and merger of corporations | |||||||||
| Series Name: | Warwick economics research papers series (WERPS) | |||||||||
| Publisher: | University of Warwick. Department of Economics | |||||||||
| Place of Publication: | Coventry | |||||||||
| ISSN: | 2059-4283 | |||||||||
| Official Date: | June 2018 | |||||||||
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| Volume: | 1168 | |||||||||
| Number of Pages: | 39 | |||||||||
| Institution: | University of Warwick | |||||||||
| Status: | Not Peer Reviewed | |||||||||
| Publication Status: | Unpublished | |||||||||
| Access rights to Published version: | Open Access (Creative Commons) | |||||||||
| Date of first compliant deposit: | 19 June 2018 | |||||||||
| Date of first compliant Open Access: | 19 June 2018 | |||||||||
| RIOXX Funder/Project Grant: |
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