Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/165964
Authors: 
Arulampalam, Wiji
Devereux, Michael P.
Liberini, Federica
Year of Publication: 
2017
Series/Report no.: 
Memorandum, Department of Economics, University of Oslo 02/2017
Abstract: 
We use firm-level data to investigate the impact of taxes on the international location of targets in M&A allowing for heterogeneous responses by companies. The statutory tax rate in the target country is found to have a negative impact on the probability of an acquisition in that country. In addition, the estimated size of the effect is found to depend on whether (i) acquirer is a domestic or a multinational enterprise; (ii) the acquisition is domestic or cross-border; and (iii) the acquirer's country has a worldwide or territorial tax system.
Subjects: 
multinational enterprises
cross-border expansion
target choice
corporation income tax
mixed logit
JEL: 
G34
H25
H32
C25
Document Type: 
Working Paper

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