G2TT
来源类型Discussion paper
规范类型论文
来源IDDP8460
DP8460 The Impact of Controlled Foreign Company Legislation on Real Investments Abroad: A Two-dimensional Regression Discontinuity Design
Peter Egger; Georg Wamser
发表日期2011-06-01
出版年2011
语种英语
摘要Controlled foreign company (CFC) rules are frequently imposed by countries as part of their anti-tax-avoidance legislation. This paper aims at quantifying their impact on foreign investments by utilizing a regression discontinuity design and the universe of German foreign investments notified to Deutsche Bundesbank. While most regression discontinuity designs are one-dimensional, German CFC legislation gives rise to a two-dimensional design. The latter allows the local average treatment effect (LATE) to be heterogeneous along the two treatment thresholds, which are related to the level of the foreign corporate profit tax rate and to the returns on passive assets relative to total returns. We find clear evidence of a negative average LATE of the CFC legislation on the fixed assets held by German multinationals abroad. We find also evidence of some heterogeneity of LATE according to parametric as well as nonparametric estimates. On average, foreign assets are estimated to respond by about 10 million Euros in the neighborhood of the intersection of both treatment thresholds. This evidence points to a significant and economically large impact of anti-tax-avoidance legislation on multinational firms? real activity abroad.
主题International Trade and Regional Economics
关键词Cfc rule Corporate profit tax Multinational firms Plant-level data Regression discontinuity design Tax avoidance
URLhttps://cepr.org/publications/dp8460
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/537288
推荐引用方式
GB/T 7714
Peter Egger,Georg Wamser. DP8460 The Impact of Controlled Foreign Company Legislation on Real Investments Abroad: A Two-dimensional Regression Discontinuity Design. 2011.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Peter Egger]的文章
[Georg Wamser]的文章
百度学术
百度学术中相似的文章
[Peter Egger]的文章
[Georg Wamser]的文章
必应学术
必应学术中相似的文章
[Peter Egger]的文章
[Georg Wamser]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。