Foreign Tax Credit Limitations and Preferred Stock Issuances

Collins, Julie H.; Shackelford, Douglas A.

doi:10.2307/2491196

Cited by 83 publications

(54 citation statements)

References 5 publications

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“…The calculation of ALLOC follows a similar calculation used to measure the marginal tax benefit of domestic interest deductions by Collins and Shackelford (1992) and Newberry and Dhaliwal (2001).…”

Section: Tax Variablesmentioning

confidence: 99%

Multi-Jurisdictional Tax Incentives and the Location of Innovative Activities

MacDonald¹

2011

SSRN Journal

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Section: Tax Variablesmentioning

confidence: 99%

Multi-Jurisdictional Tax Incentives and the Location of Innovative Activities

MacDonald¹

2011

SSRN Journal

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“…Collins and Shackelford (1992) The incentive increases if firms are less financially constrained and more technology intensive (Albring, Mills, and Newberry 2011;Foley, Hartzell, and Titman 2007). Another consequence is 9 high cash holdings abroad of U.S. multinationals.…”

Section: Institutional Setting and Hypothesis Developmentmentioning

confidence: 99%

Why are U.S.-Owned Foreign Subsidiaries Not Tax Aggressive?

Kohlhase

Pierk

2016

SSRN Journal

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“…Desai et al (2004) and both provide evidence that debt levels are positively related to affiliates' tax rates. Collins and Shackelford (1992), Newberry (1998) and Newberry and Dhaliwal (2001) all investigate whether an MNC's capital structure is affected by its global tax position. Using publicly available financial statement data, Collins and Shackelford (1992) and Newberry (1998) find that U.S. MNCs' estimated tax cost of repatriation (i.e., the firm's foreign tax credit status) influences whether firms substitute equity financing for domestic financing.…”

Section: Empirical Evidencementioning

confidence: 99%

“…Collins and Shackelford (1992), Newberry (1998) and Newberry and Dhaliwal (2001) all investigate whether an MNC's capital structure is affected by its global tax position. Using publicly available financial statement data, Collins and Shackelford (1992) and Newberry (1998) find that U.S. MNCs' estimated tax cost of repatriation (i.e., the firm's foreign tax credit status) influences whether firms substitute equity financing for domestic financing. 2 Newberry and Dhaliwal (2001) finds evidence that U.S. MNCs firms locate their debt abroad when the firms' tax cost of repatriations is low (i.e., firm is in an excess FTC limit position).…”

Section: Empirical Evidencementioning

confidence: 99%

The Taxation of Multinational Corporations

Blouin

1996

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Multinational taxation is an area of research that encompasses academics in accounting, finance and economics. In particular, researchers are interested in determining whether taxation alters where multinational corporations (MNCs) operate their businesses. A review of the literature on foreign direct investment provides clear support for taxes influencing MNCs' location decisions. In addition, MNCs appear to organize themselves in a manner to increase the amount of their profitsinvested in relatively lightly taxed jurisdictions. By altering the location and the character of income across jurisdictions, MNCs are able to reduce their tax burdens. The natural extension of these lines of research, then, is determining the welfare consequences of MNCs' sensitivity to taxation. This review aggregates the large body of international tax literature succinctly in one location. Very little of what is incorporated in this piece is novel. Rather, it borrows heavily from those researchers who have focused their careers on understanding taxation in the multinational context. Unfortunately, because the research in this area is dominated by work involving U.S. data, the review is also quite U.S.-centric. However, many countries' multinational tax rules are quite similar. This is primarily attributable to the conformity generated in tax treaties based on the model treaty outlined by the Organization for Economic Cooperation and Development (OECD). So, although there is variation in specific tax rules across jurisdictions, the basic tax rules are very homogeneous.

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Foreign Tax Credit Limitations and Preferred Stock Issuances

Cited by 83 publications

References 5 publications

Multi-Jurisdictional Tax Incentives and the Location of Innovative Activities

Multi-Jurisdictional Tax Incentives and the Location of Innovative Activities

Why are U.S.-Owned Foreign Subsidiaries Not Tax Aggressive?

The Taxation of Multinational Corporations

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