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University of Arizona

1. Murphy, Francis. Do Firms Alter Foreign Organizational Structure in Response to Changes in U.S. International Tax Policy? Evidence From TIPRA 2005 .

Degree: 2017, University of Arizona

I use the passage of the Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA), which alters the after-tax considerations of foreign internal capital markets, as a quasi-natural experimental setting to test whether a reduction in the tax costs associated with moving foreign capital increased firms' use of holding companies. In separate tests using Compustat and IRS data, I document that firms increase holding company use after TIPRA. Furthermore, I find that firms with the greatest increase in holding companies also increase their post-TIPRA foreign sales and generate more persistent foreign earnings. I interpret these findings to suggest that TIPRA is associated with increased global competitiveness for firms that actively modify their organizational structure. In additional analysis, I attribute this increased global competitiveness to maintained liquidity and capital investments during a financial crisis relative to firms that do not respond as strongly to tax incentives to utilize holding companies. Advisors/Committee Members: Drake, Katharine D (advisor), Drake, Katharine D. (committeemember), Klasa, Sandy (committeemember), Sunder, Shyam V. (committeemember).

Subjects/Keywords: Holding Companies; International Taxation; TIPRA

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APA · Chicago · MLA · Vancouver · CSE | Export to Zotero / EndNote / Reference Manager

APA (6th Edition):

Murphy, F. (2017). Do Firms Alter Foreign Organizational Structure in Response to Changes in U.S. International Tax Policy? Evidence From TIPRA 2005 . (Doctoral Dissertation). University of Arizona. Retrieved from http://hdl.handle.net/10150/624296

Chicago Manual of Style (16th Edition):

Murphy, Francis. “Do Firms Alter Foreign Organizational Structure in Response to Changes in U.S. International Tax Policy? Evidence From TIPRA 2005 .” 2017. Doctoral Dissertation, University of Arizona. Accessed September 22, 2019. http://hdl.handle.net/10150/624296.

MLA Handbook (7th Edition):

Murphy, Francis. “Do Firms Alter Foreign Organizational Structure in Response to Changes in U.S. International Tax Policy? Evidence From TIPRA 2005 .” 2017. Web. 22 Sep 2019.

Vancouver:

Murphy F. Do Firms Alter Foreign Organizational Structure in Response to Changes in U.S. International Tax Policy? Evidence From TIPRA 2005 . [Internet] [Doctoral dissertation]. University of Arizona; 2017. [cited 2019 Sep 22]. Available from: http://hdl.handle.net/10150/624296.

Council of Science Editors:

Murphy F. Do Firms Alter Foreign Organizational Structure in Response to Changes in U.S. International Tax Policy? Evidence From TIPRA 2005 . [Doctoral Dissertation]. University of Arizona; 2017. Available from: http://hdl.handle.net/10150/624296

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