The prevalence and determinants of stateless income

Zhang, D 2016, The prevalence and determinants of stateless income, Masters by Research, Economics, Finance and Marketing, RMIT University.


Document type: Thesis
Collection: Theses

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Title The prevalence and determinants of stateless income
Author(s) Zhang, D
Year 2016
Abstract This research investigates the ‘stateless income’ tax strategies pursued by firms publicly listed in the United States. Stateless income strategies are employed by multinational corporations, American firms in particular, through a Double Irish Dutch Sandwich structure to reduce tax liabilities. By examining 700 listed U.S. firms over the period 2004-2013, this research finds that larger firms with higher levels of foreign income are more likely to adopt the Double Irish Dutch Sandwich structure. Additionally, multinational corporations engaged in Double Irish Dutch Sandwich structure are associated with lower effective tax rate compared to their domestic counterparties. Regression analysis demonstrates that a firm’s effective tax rates are associated with firm size, firm leverage, capital structure, capital mix and foreign income. We also find the development and investment in intellectual property is an important component in generating ‘stateless income’ and firms engaged in ‘stateless income’ strategies hold large amounts of cash outside of the US.
Degree Masters by Research
Institution RMIT University
School, Department or Centre Economics, Finance and Marketing
Subjects Finance
Keyword(s) ETRs
Double Irish Dutch Sandwich
Stateless Income
DIDS
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Created: Thu, 10 Aug 2017, 15:53:53 EST by Adam Rivett
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