Wem droht die Zinsschranke? Eine empirische Untersuchung zur Identifikation der Einflussfaktoren

Blaufus, Kay; Lorenz, Daniela

doi:10.1007/s11573-009-0231-3

Cited by 19 publications

(4 citation statements)

References 6 publications

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“…Their effects are not separable from the effect of the corporate tax cut. However, Blaufus and Lorenz (2009) suggest that the interest barrier rule is only applicable to very few firms, due to several escape clauses. Therefore, I do not expect this rule to bias my results.…”

Section: Institutional Settingmentioning

confidence: 99%

Do Corporate Tax Cuts Reduce International Profit Shifting?

Brandstetter

2014

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Applying a difference-in-differences framework with a one-onone matching strategy, which compares earnings of multinational and domestic corporations, I do not find empirical evidence that even a 10 percentage points cut in the business tax rate leads to a reduction of profit shifting activities. Terms of use: Documents in EconStor may

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Section: Institutional Settingmentioning

confidence: 99%

Do Corporate Tax Cuts Reduce International Profit Shifting?

Brandstetter

2014

SSRN Journal

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“…This study uses financial statement data, so we can only approximate the required data for the tax balance sheet (Blaufus and Lorenz, 2009). The dummy variable T REAT is set equal to 1 for companies that meet the following conditions:…”

Section: Treatment Groupmentioning

confidence: 99%

“…For the variables expected loss provisions, accrual provisions, deferred taxes, corporate income tax and participation income, we assume that if there are no entries in the database, variables are zero. This approach is consistent with the work of Blaufus and Lorenz (2009) and was randomly checked against individual financial statements in the Federal Gazette (Bundesanzeiger). This resulted in no deviations in the sample.…”

Section: Treatment Groupmentioning

confidence: 99%

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The Effect of Taxes on Corporate Financing Decisions Evidence from the German Interest Barrier

Alberternst

Sureth-Sloane

2015

SSRN Journal

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The literature suggests that when taking tax effects into account, debt ought to be preferable to equity. Thus, with all else being equal, levered firms are expected to show higher firm values. However, there are no uniform predictions of the size of this tax benefit from interest deductibility nor on the effect of changes in interest deductibility. We believe that the German corporate tax reform in 2008, which introduced an interest barrier, can serve as a promising "quasi-experiment" to investigate the effects from a reform of interest deductibility. A study of this reform on the basis of German financial statement data is of general interest because, first, similar interest barriers have been introduced in several countries and proposed by the OECD to fight BEPS. Second, the major characteristics of the German tax system can be regarded as representative for most European and major Asian countries. Third, single entity financial statements for German companies allows us to capture tax and capital structure details that have not been available in most prior studies. With significance at the 5% level, we find evidence that the companies that are affected by the interest barrier reduce their leverage by 4.7 percentage points more than companies that are not affected by the interest barrier. We are the first to employ a detailed matching approach to the underlying rich dataset, which enables us to overcome several limitations of previous studies. Our results imply that capital structure reactions most likely have been underestimated in previous studies.JEL Classification: F34, H21, H24

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§ 2 Die Besteuerung von Fremd- und Eigenkapital aus ökonomischer Sicht

Becker

Dwenger

2013

Eigenkapital Und Fremdkapital

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Wem droht die Zinsschranke? Eine empirische Untersuchung zur Identifikation der Einflussfaktoren

Cited by 19 publications

References 6 publications

Do Corporate Tax Cuts Reduce International Profit Shifting?

Do Corporate Tax Cuts Reduce International Profit Shifting?

The Effect of Taxes on Corporate Financing Decisions Evidence from the German Interest Barrier

§ 2 Die Besteuerung von Fremd- und Eigenkapital aus ökonomischer Sicht

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