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Taxes and the location of targets
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Arulampalam, Wiji, Devereux , Michael P. and Liberini, Federica (2017) Taxes and the location of targets. Working Paper. Coventry: University of Warwick. Department of Economics. Warwick economics research papers series (WERPS) (1135).
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Official URL: http://www2.warwick.ac.uk/fac/soc/economics/resear...
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 > HD Industries. Land use. Labor H Social Sciences > HF Commerce |
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Divisions: | Faculty of Social Sciences > Economics | ||||
Library of Congress Subject Headings (LCSH): | Business enterprises -- Taxation, Consolidation and merger of corporations, International business enterprises | ||||
Series Name: | Warwick economics research papers series (WERPS) | ||||
Publisher: | University of Warwick. Department of Economics | ||||
Place of Publication: | Coventry | ||||
ISSN: | 0083-7350 | ||||
Official Date: | February 2017 | ||||
Dates: |
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Number: | 1135 | ||||
Number of Pages: | 47 | ||||
Institution: | University of Warwick | ||||
Status: | Not Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Open Access (Creative Commons) | ||||
Funder: | Hundred Group of Finance Directors, European Tax Policy Forum (ETPF), Economic and Social Research Council (Great Britain) (ESRC) | ||||
Grant number: | RES-060-25-0033 (ESRC) |
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