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  1. Does intangible asset intensity increase profit-shifting opportunities of multinationals?
    Autor*in: Crotti, Roberto
    Erschienen: February 2021
    Verlag:  Graduate Institute of International and Development Studies, International Economics Department, Geneva, Switzerland

    This paper studies how intangible asset intensity affects multinationals' profitshifting behavior. Intangible assets reduce the cost of booking profits in low-tax jurisdictions, independently from where profits are generated. Consequently they can be... mehr

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    This paper studies how intangible asset intensity affects multinationals' profitshifting behavior. Intangible assets reduce the cost of booking profits in low-tax jurisdictions, independently from where profits are generated. Consequently they can be instrumental to implementing tax-avoidance schemes. Using a large firm-level, parent-subsidiaries matched panel data set I test if multinationals characterized by high intangible asset intensity report higher profits in low-tax jurisdictions, respect to corporations with low intangible asset intensity. I find that, intangible asset intensity exacerbates multinationals' profit-shifting behavior. Splitting the sample between tech and non-tech companies, I find that, although tech companies leverage intangible asset intensity for profit-shifting more than the rest of the sample, there is no statistical difference between profit-shifting of tech companies with high intangibles intensity and non-tech companies with high intangibles intensity.

     

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    Weitere Identifier:
    hdl: 10419/238093
    Schriftenreihe: Working paper series / Graduate Institute of International and Development Studies, International Economics Department ; no. HEIDWP2021, 02
    Schlagworte: intangible assets; international profit-shifting; corporate taxation
    Umfang: 1 Online-Ressource (circa 43 Seiten), Illustrationen
  2. Consequences of future climate policy
    regional economies, financial markets, and the direction of innovation
    Erschienen: [2020]
    Verlag:  ifo Institut, München

    With the Paris Agreement of 2016, 189 nations signed a legally binding document to keep global warming below 2 C, and to pursue efforts to limit the temperature increase to 1.5 C. It was recognized that this would reduce climate change impacts... mehr

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    With the Paris Agreement of 2016, 189 nations signed a legally binding document to keep global warming below 2 C, and to pursue efforts to limit the temperature increase to 1.5 C. It was recognized that this would reduce climate change impacts substantially. All signatories submitted "Intended Nationally Determined Contributions" (INDCs) where they specified their national emission reduction goals and pathways to achieve them. However, the INDCs submitted for the Paris Agreement "imply a median warming of 2.6-3.1 degrees Celsius by 2100" (Rogelj et al. 2016). A temperature increase by 2 C would already carry a very high risk for systems such as the Arctic sea ice and coral reefs. For a warming of 3 C above pre-industrial levels though, we are expected to face extensive losses of biodiversity and ecosystems; accelerated economic damages; and a high risk for abrupt and irreversible changes ("tipping points"), such as the melting of the Greenland ice sheet and the accompanying sea level rise (IPCC 2014b).

     

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    Sprache: Englisch
    Medientyp: Dissertation
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    ISBN: 9783959420969
    Weitere Identifier:
    hdl: 10419/234463
    Schriftenreihe: ifo Beiträge zur Wirtschaftsforschung ; 95 (2021)
    Schlagworte: Stranded assets; climate policy; expectations; utilities; event study; green innovation; patents; panel analysis; green finance; climate risk; intangible assets; institutional investors; renewable energy; crowding-out; regional economics; input-output ana
    Umfang: 1 Online-Ressource (circa 218 Seiten), Illustrationen
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    Dissertation, Universität München, 2020

  3. Human capital and education policy
    evidence from survey data
    Erschienen: [2021]
    Verlag:  ifo Institut, München

    Elisabeth Grewenig prepared this study while she was working at the Center for Economics of Education at the ifo Institute. The study was completed in March 2021 and accepted as doctoral thesis by the Department of Economics at the LMU Munich. It... mehr

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    Elisabeth Grewenig prepared this study while she was working at the Center for Economics of Education at the ifo Institute. The study was completed in March 2021 and accepted as doctoral thesis by the Department of Economics at the LMU Munich. It consists of five distinct empirical essays that address various aspects of human capital formation and education policy. Chapters 2 and 3 are concerned with the determinants of human capital formation. In particular, chapter 2 investigates the impact of gender norms on labor-supply expectations of adolescents. Chapter 3 analyzes the effects of the Corona-induced school closures on students' time spent with different educational activities. Chapters 4 and 5 are concerned with the implementation and feasibility of educational reforms. Thereby, chapter 4 evaluates the impact of recent reforms on binding teacher recommendations by studying educational outcomes of students in primary and secondary schools. Chapter 5 examines whether support for educational policies is amenable to information provision about party-positions. Finally, chapter 6 contributes to the methodological debate around survey measurement by investigating belief elicitation in large-scale online surveys.

     

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    ISBN: 9783959420990
    Weitere Identifier:
    hdl: 10419/243180
    Schriftenreihe: ifo Beiträge zur Wirtschaftsforschung ; 96 (2021)
    Schlagworte: Stranded assets; climate policy; expectations; utilities; event study; green innovation; patents; panel analysis; green finance; climate risk; intangible assets; institutional investors; renewable energy; crowding-out; regional economics; input-output ana; Gender Norms; Female Labor Supply; Survey Experiments; EducationalInequality; COVID-19; Low-Achieving Students; Home Schooling; DistanceTeaching; School Tracking; Admission Policies; Student Performance; Political Parties; Partisanship; Information; Endogenous Preferences; Voters,Family Policy; Beliefs; Incentives; Online Search
    Umfang: 1 Online-Ressource (circa 294 Seiten), Illustrationen
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    Erscheint auch als Druck-Ausgabe

    Dissertation, Universität München, 2021

  4. Determinanten und regulatorische Dimensionen der Berichterstattungsqualität immaterieller Werte
    theoretische Fundierung und empirische Evidenz für deutsche, börsennotierte Familienunternehmen
    Erschienen: 2021
    Verlag:  Cuvillier Verlag, Göttingen

    Universitätsbibliothek Duisburg-Essen
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    Universitäts- und Landesbibliothek Münster
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    Medientyp: Dissertation
    ISBN: 9783736974654
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    9783736974654
    Auflage/Ausgabe: 1. Auflage
    Schlagworte: Immaterielles Wirtschaftsgut; Börsennotierte Aktiengesellschaft; Geschäftsbericht; Informationswert; Familienkapitalgesellschaft
    Weitere Schlagworte: Hardcover, Softcover / Wirtschaft/Betriebswirtschaft; Legitimitätstheorie; Inhaltsanalyse; Investorenkapital; Kapitalrendite; Nichtfinanzielle Erklärung; return on capital; Unternehmensberichterstattung; innovation capital; intellectual capital; Share index; Forschung und Entwicklung; Finanzmarktintegrität; immaterielle Werte; corporate governance; Kundenkapital; relational capital; börsennotiert; non-financial statement; Prozesskapital; Forschungslücke; structural capital; intangible assets; reporting quality; Nichtfinanzielle Berichterstattung; content analysis; customer capital; Prinzipal-Agenten-Theorie; Stakeholdertheorie; Aktienindex; Innovationskapital; research and development; Determinanten; investor capital; immaterielle Vermögenswerte; supplier capital; Handelsgesetzbuch; Standardsetter; stakeholder theory; systematischer Literatur-Review; location capital; legitimacy theory; auditing firm; German Companies Act; Signalling-Theorie; family firm; process capital; Accounting Law Reform Act; Berichterstattungsqualität; regulatory dimensions; reporting; research gap; Berichterstattung; signalling theory; human capital; Nachhaltigkeit; Paneldatenregression; Lieferantenkapital; Wirtschaftsprüfungsgesellschaft; Familienunternehmen; listed on the stock exchange; Standortkapital; non-financial reporting; Beziehungskapital; financial market integrity; regulatorische Dimensionen; determinants; Bilanzrechtsreformgesetz; corporate reporting; Humankapital; Wertschöpfungskoeffizient; MAXQDA; Kapitalrentabilität; panel data regression; systematic literature review; family business; Aktiengesetz; principal agent theory; sustainability; commercial code; Strukturkapital
    Umfang: XXIX, 416 Seiten, Diagramme
    Bemerkung(en):

    Dissertation, Technische Universität Clausthal, 2021

  5. Performance Effects of Multinationality
    The Role of Firm-specific Advantages, Intra- and Inter-regional Expansion, and Home-region Effects
    Erschienen: 6. Februar 2017

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    Beteiligt: Eckert, Stefan (AkademischeR BetreuerIn); Claus, Thorsten (AkademischeR BetreuerIn); Kemnitz, Alexander (AkademischeR BetreuerIn); Schirmer, Frank (AkademischeR BetreuerIn)
    Sprache: Englisch
    Medientyp: Dissertation
    Format: Online
    Weitere Identifier:
    RVK Klassifikation: QP 305
    Schlagworte: multinationality; performance; multinational companies; firm-specific assets; regionalization; strategy; european firms; home region; intangible assets
    Umfang: 1 Online-Ressource (circa 47 Seiten)
    Bemerkung(en):

    Das Erscheinungsdatum ist der Tag der Verteidigung

    Dissertation, Technische Universität Dresden, 2017

  6. What is productive investment? Insights from firm-level data for the United Kingdom
    Erschienen: July 2022
    Verlag:  Bank of England, London

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    Schriftenreihe: Staff working paper / Bank of England ; no. 992
    Schlagworte: Dynamic programming; firm-level productivity; intangible assets; panel regression
    Umfang: 1 Online-Ressource (circa 55 Seiten), Illustrationen
  7. Taxing the transfer of intellectual property
    reporting, auditing, and revaluation
    Erschienen: [2020]
    Verlag:  Tuck School of Business at Dartmouth], [Hanover, NH

    This study creates and analyzes a model in which the income from intellectual property (IP) owned by a domestic parent and foreign subsidiary must be shared between the domestic and foreign countries for tax purposes. The model focuses on the effects... mehr

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    This study creates and analyzes a model in which the income from intellectual property (IP) owned by a domestic parent and foreign subsidiary must be shared between the domestic and foreign countries for tax purposes. The model focuses on the effects of the commensurate with income standard, under which the future realized values of the IP are used to evaluate the sharing arrangement, even though these values were unknown to the taxpayer when the sharing arrangement was established. Greater weight on the realized value induces more aggressive auditing by the tax authority but could induce the taxpayer to be either more or less aggressive. Putting all the weight on the realized values generates higher domestic tax revenue compared to a hypothetical full-information benchmark case when audit costs are low, but lower domestic tax revenue relative to that benchmark when audit costs are high

     

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    Schriftenreihe: [Tuck School of Business working paper ; no. 3711726]
    Schlagworte: transfer pricing; intangible assets; multinational taxation
    Umfang: 1 Online-Ressource (circa 34 Seiten)
  8. Asymmetries in global value chain integration, technology and employment structures in Europe
    country and sectoral evidence
    Erschienen: November 2021
    Verlag:  CESifo, Center for Economic Studies & Ifo Institute, Munich, Germany

    This paper provides empirical evidence on the complex role played by technology in affecting the relationship between the participation of EU countries and industries in Global Value Chains (GVCs) and their employment structure over the period... mehr

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    This paper provides empirical evidence on the complex role played by technology in affecting the relationship between the participation of EU countries and industries in Global Value Chains (GVCs) and their employment structure over the period 2000-2014. The empirical analysis is based on country/industry level data for 21 EU countries on employment, trade in value added, patents and investments in intangible assets, and focusses on backward linkages within GVCs. The role of technology is analysed by taking into account both the technological intensity of offshoring industries and that of their GVC partners. We study the employment structure by looking at the shares of managers and manual workers, which reflect the "functional specialisation" of the country-sector within GVCs. We find that pre-existing asymmetries in the functional specialisation are highly persistent over time, with little sign of convergence over our observed period. Furthermore, GVC participation is not related to changes in the employment structure. However, this relationship appears to be mediated by country-industries’ initial technological performance. Technological leader industries exhibit, in fact, larger shares of employment in headquarter functions, and this functional specialisation tends to be strengthened as they increase their integration into GVCs. In contrast, country-industries that start off as technological laggards see integration into GVCs accompanied by an increase in the share of employment in fabrication functions. The technological profile of the partners is also found to play a role in the relationship between GVC integration and the functional specialisation of the offshoring country/industry, although different patterns emerge depending on the nature of the partner (manufacturing vs service).

     

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    hdl: 10419/248983
    Schriftenreihe: CESifo working paper ; no. 9438 (2021)
    Schlagworte: global value chains; employment; technology; intangible assets; patents
    Umfang: 1 Online-Ressource (circa 66 Seiten), Illustrationen
  9. Global Evidence on Profit Shifting Within Firms and Across Time
    Erschienen: 2022
    Verlag:  SSRN, [S.l.]

    We provide the first global estimates of profit shifting at the subsidiary-year level. Employing nonparametric estimation techniques within a mainstay model of profit shifting, we examine the subsidiary-year responses of earnings to the composite tax... mehr

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    We provide the first global estimates of profit shifting at the subsidiary-year level. Employing nonparametric estimation techniques within a mainstay model of profit shifting, we examine the subsidiary-year responses of earnings to the composite tax indicator faced by all subsidiaries of a multinational firm. Our panel includes 26,593 subsidiaries across 95 countries for the period 2009 2017. We extensively validate our results against aggregate estimates of previous studies and evidence from specific cases. We find that profit shifting decreased over this period in advanced economies but increased in other parts of the world where taxation policies are less stringent on average, consistent with tax arbitrage strategies. We also examine correlates of profit shifting, identifying that a key determinant is the subsidiaries’ ratio of intangible assets, and this channel is stronger in countries with weaker institutions. Both our new database and correlates open important avenues to analyze the sources and effects of profit shifting

     

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    Schriftenreihe: Swiss Finance Institute Research Paper ; No. 22-94
    Schlagworte: Profit shifting; multinational enterprises; nonparametric estimation; intangible assets; institutional quality; global sample
    Umfang: 1 Online-Ressource (78 p)
    Bemerkung(en):

    Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 1, 2022 erstellt

  10. Intangible assets, the digitalization of production and the development - energy nexus
    Autor*in: Knauss, Steven
    Erschienen: [2023]
    Verlag:  WU Vienna, Institute for Ecological Economics, Vienna

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    Schriftenreihe: Working paper series / Institute for Ecological Economics, Vienna University of Economics and Business ; 45 (2023)
    Schlagworte: global value chains; development; intangible assets; energy efficiency
    Umfang: 1 Online-Ressource (circa 67 Seiten), Illustrationen
  11. The intangibles song in takeover announcements
    good tempo, hollow tune
    Erschienen: February 2, 2019
    Verlag:  Swiss Finance Institute, Geneva

    Mergers and acquisitions are often motivated by the intention of creating value from intangible assets. We develop a novel word list of intangibles and apply it to takeover announcements. Deals presented with more “intangibles talk” complete more... mehr

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    Mergers and acquisitions are often motivated by the intention of creating value from intangible assets. We develop a novel word list of intangibles and apply it to takeover announcements. Deals presented with more “intangibles talk” complete more quickly. However, the value of these deals to the acquirer is questionable: One standard deviation more in intangibles talk results in 0.45 percentage points lower abnormal announcement returns of bidders. Agency problems explain little of these results. Instead, payment mode choices and insider trades suggest that intangibles talk reflects managerial overoptimism. Overall, takeover announcements can provide important information regarding the quality of deals

     

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    Schriftenreihe: Research paper series / Swiss Finance Institute ; no 19, 03
    Swiss Finance Institute Research Paper ; No. 19-03
    Weitere Schlagworte: Array
    Umfang: 1 Online-Ressource (circa 66 Seiten), Illustrationen
  12. Determinanten und regulatorische Dimensionen der Berichterstattungsqualität immaterieller Werte
    theoretische Fundierung und empirische Evidenz für deutsche, börsennotierte Familienunternehmen
    Erschienen: 2021
    Verlag:  Cuvillier Verlag, Göttingen

    Universitätsbibliothek Duisburg-Essen
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    ISBN: 9783736974654
    Weitere Identifier:
    9783736974654
    Auflage/Ausgabe: 1. Auflage
    Schlagworte: Legitimitätstheorie; Inhaltsanalyse; Investorenkapital; Kapitalrendite; Nichtfinanzielle Erklärung; return on capital; Unternehmensberichterstattung; innovation capital; intellectual capital; Share index; Forschung und Entwicklung; Finanzmarktintegrität; immaterielle Werte; corporate governance; Kundenkapital; relational capital; börsennotiert; non-financial statement; Prozesskapital; Forschungslücke; structural capital; intangible assets; reporting quality; Nichtfinanzielle Berichterstattung; content analysis; customer capital; Prinzipal-Agenten-Theorie; Stakeholdertheorie; Aktienindex; Innovationskapital; research and development; Determinanten; investor capital; immaterielle Vermögenswerte; supplier capital; Handelsgesetzbuch; Standardsetter; stakeholder theory; systematischer Literatur-Review; location capital; legitimacy theory; auditing firm; German Companies Act; Signalling-Theorie; family firm; process capital; Accounting Law Reform Act; Berichterstattungsqualität; regulatory dimensions; reporting; research gap; Berichterstattung; signalling theory; human capital; Nachhaltigkeit; Paneldatenregression; Lieferantenkapital; Wirtschaftsprüfungsgesellschaft; Familienunternehmen; listed on the stock exchange; Standortkapital; non-financial reporting; Beziehungskapital; financial market integrity; regulatorische Dimensionen; determinants; Bilanzrechtsreformgesetz; corporate reporting; Humankapital; Wertschöpfungskoeffizient; MAXQDA; Kapitalrentabilität; panel data regression; systematic literature review; family business; Aktiengesetz; principal agent theory; sustainability; commercial code; Strukturkapital
    Weitere Schlagworte: Hardcover, Softcover / Wirtschaft/Betriebswirtschaft
    Umfang: XXIX, 416 Seiten, Diagramme
    Bemerkung(en):

    Dissertation, Technische Universität Clausthal, 2021

  13. Mark-ups in the digital era
    Erschienen: [2024]
    Verlag:  Centre for Economic Performance, London School of Economics and Political Science, London

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    Schriftenreihe: Discussion paper / Centre for Economic Performance ; no. 1994 (April 2024)
    Schlagworte: mark-ups; market power; digitalisation; intangible assets
    Umfang: 1 Online-Ressource (circa 55 Seiten), Illustrationen
  14. Unsecured loans and intangible investment
    Erschienen: [2023]
    Verlag:  RIETI, [Tokyo, Japan]

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    Schriftenreihe: RIETI discussion paper series ; 23-E, 034 (May 2023)
    Schlagworte: collateral constraints; intangible assets; small and medium-sized enterprises; total factor productivity; government-owned banks
    Umfang: 1 Online-Ressource (circa 66 Seiten)