Tax Competition

• Tác giả: Atsushi Kawamoto
• Ngôn ngữ: eng
• Ký hiệu phân loại: 336.2 Taxes
• Thông tin xuất bản: World Bank, Washington, DC, 2020
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 298097
• Chủ đề: 1. CORPORATE INCOME TAX; 2. CORPORATE SAVINGS; 3. FINANCING POLICY; 4. GLOBAL IMBALANCE; 5. PROPENSITY SCORE MATCHING

Tóm tắt

This paper examines the determinants of corporate savings in a cross-country panel setting. Specifically, it employs firm-level data covering more than 540,000 firm-year observations for 12 advanced and emerging market economies. Panel regression results suggest that reductions in statutory corporate income tax rates can explain one-third of the rise in corporate savings (defined as net financial assets) in 2003-17. This finding is supported by a propensity scores matching analysis of the effects of changes in corporate income tax rates.