Capital structure and international debt shifting : a comment

Kurzanzeige
dc.contributor.authorMoen, Jarledeu
dc.contributor.authorSchindler, Dirk
dc.contributor.authorSchjelderup, Guttormdeu
dc.date.accessioned2011-03-25T09:42:42Zdeu
dc.date.available2011-03-25T09:42:42Zdeu
dc.date.issued2008deu
dc.description.abstractIn a recent article, Huizinga, Laeven and Nicodème (2008) present a novel model that motivates an extensive empirical analysis of international debt shifting. We point out that the model fails to account for internal debt, and that once internal debt is properly accounted for, the external debt mechanism they propose is not identified in theempirical analysis. We also point out that affiliate specific debt costs reduce affiliate dividends. When this is implemented in the model, their regression equation can only be derived under the very restrictive assumption that effective tax rates on dividends are the same in all countries.eng
dc.description.versionpublished
dc.format.mimetypeapplication/pdfdeu
dc.identifier.ppn312701454deu
dc.identifier.urihttp://kops.uni-konstanz.de/handle/123456789/12105
dc.language.isoengdeu
dc.legacy.dateIssued2009deu
dc.rightsAttribution-ShareAlike 2.0 Generic
dc.rights.urihttp://creativecommons.org/licenses/by-sa/2.0/
dc.subjectcapital structuredeu
dc.subjectdebt shiftingdeu
dc.subject.ddc330deu
dc.subject.jelF23deu
dc.subject.jelG32deu
dc.subject.jelH25deu
dc.titleCapital structure and international debt shifting : a commenteng
dc.typeWORKINGPAPERdeu
dspace.entity.typePublication
kops.citation.bibtex
@techreport{Moen2008Capit-12105,
  year={2008},
  title={Capital structure and international debt shifting : a comment},
  author={Moen, Jarle and Schindler, Dirk and Schjelderup, Guttorm},
  note={NHH Discussion Paper (2008), 15}
}
kops.citation.iso690MOEN, Jarle, Dirk SCHINDLER, Guttorm SCHJELDERUP, 2008. Capital structure and international debt shifting : a commentdeu
kops.citation.iso690MOEN, Jarle, Dirk SCHINDLER, Guttorm SCHJELDERUP, 2008. Capital structure and international debt shifting : a commenteng
kops.citation.rdf
<rdf:RDF
    xmlns:dcterms="http://purl.org/dc/terms/"
    xmlns:dc="http://purl.org/dc/elements/1.1/"
    xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#"
    xmlns:bibo="http://purl.org/ontology/bibo/"
    xmlns:dspace="http://digital-repositories.org/ontologies/dspace/0.1.0#"
    xmlns:foaf="http://xmlns.com/foaf/0.1/"
    xmlns:void="http://rdfs.org/ns/void#"
    xmlns:xsd="http://www.w3.org/2001/XMLSchema#" > 
  <rdf:Description rdf:about="https://kops.uni-konstanz.de/server/rdf/resource/123456789/12105">
    <dcterms:isPartOf rdf:resource="https://kops.uni-konstanz.de/server/rdf/resource/123456789/46"/>
    <dc:contributor>Schindler, Dirk</dc:contributor>
    <dcterms:abstract xml:lang="eng">In a recent article, Huizinga, Laeven and Nicodème (2008) present a novel model that motivates an extensive empirical analysis of international debt shifting. We point out that the model fails to account for internal debt, and that once internal debt is properly accounted for, the external debt mechanism they propose is not identified in theempirical analysis. We also point out that affiliate specific debt costs reduce affiliate dividends. When this is implemented in the model, their regression equation can only be derived under the very restrictive assumption that effective tax rates on dividends are the same in all countries.</dcterms:abstract>
    <dc:contributor>Moen, Jarle</dc:contributor>
    <dc:creator>Schindler, Dirk</dc:creator>
    <dspace:isPartOfCollection rdf:resource="https://kops.uni-konstanz.de/server/rdf/resource/123456789/46"/>
    <dcterms:hasPart rdf:resource="https://kops.uni-konstanz.de/bitstream/123456789/12105/1/Schindler_8_1.pdf"/>
    <dc:creator>Schjelderup, Guttorm</dc:creator>
    <dc:contributor>Schjelderup, Guttorm</dc:contributor>
    <dc:format>application/pdf</dc:format>
    <dc:date rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2011-03-25T09:42:42Z</dc:date>
    <dcterms:rights rdf:resource="http://creativecommons.org/licenses/by-sa/2.0/"/>
    <dcterms:issued>2008</dcterms:issued>
    <foaf:homepage rdf:resource="http://localhost:8080/"/>
    <bibo:uri rdf:resource="http://kops.uni-konstanz.de/handle/123456789/12105"/>
    <dcterms:title>Capital structure and international debt shifting : a comment</dcterms:title>
    <dcterms:available rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2011-03-25T09:42:42Z</dcterms:available>
    <dc:creator>Moen, Jarle</dc:creator>
    <dc:rights>Attribution-ShareAlike 2.0 Generic</dc:rights>
    <void:sparqlEndpoint rdf:resource="http://localhost/fuseki/dspace/sparql"/>
    <dspace:hasBitstream rdf:resource="https://kops.uni-konstanz.de/bitstream/123456789/12105/1/Schindler_8_1.pdf"/>
    <dc:language>eng</dc:language>
  </rdf:Description>
</rdf:RDF>
kops.description.commentNHH Discussion Paper (2008), 15deu
kops.description.openAccessopenaccessgreen
kops.flag.knbibliographytrue
kops.identifier.nbnurn:nbn:de:bsz:352-opus-88855deu
kops.opus.id8885deu
relation.isAuthorOfPublication9a1d8afa-151b-439f-ae30-5389268bf215
relation.isAuthorOfPublication.latestForDiscovery9a1d8afa-151b-439f-ae30-5389268bf215

Dateien

Originalbündel

Gerade angezeigt 1 - 1 von 1
Vorschaubild nicht verfügbar
Name:
Schindler_8_1.pdf
Größe:
180.06 KB
Format:
Adobe Portable Document Format
Schindler_8_1.pdf
Schindler_8_1.pdfGröße: 180.06 KBDownloads: 440

Sammlungen

Wirtschaftswissenschaften: Publikationen