skip to main content
Ngôn ngữ:
Giới hạn tìm kiếm: Giới hạn tìm kiếm: Dạng tài nguyên Hiển thị kết quả với: Hiển thị kết quả với: Chỉ mục

Taking the long way home U.S. tax evasion and offshore investments in U.S. equity and debt markets

Hanlon, Michelle; Maydew, Edward L ; Thornock, Jacob R

The journal of finance : the journal of the American Finance Association, 2015, Vol.70(1), pp. 257-287 [Tạp chí có phản biện]

ISSN: 0022-1082

Toàn văn sẵn có

Trích dẫn Trích dẫn bởi
  • Nhan đề:
    Taking the long way home U.S. tax evasion and offshore investments in U.S. equity and debt markets
  • Tác giả: Hanlon, Michelle
  • Maydew, Edward L ; Thornock, Jacob R
  • Chủ đề: Steuervermeidung ; Portfolio-Investition ; Anreiz ; Usa ; 1984-2008
  • Là 1 phần của: The journal of finance : the journal of the American Finance Association, 2015, Vol.70(1), pp. 257-287
  • Mô tả: To purchase or authenticate to the full-text of this article, please visit this link: http://onlinelibrary.wiley.com/doi/10.1111/jofi.12120/abstract Byline: MICHELLE HANLON, EDWARD L. MAYDEW, JACOB R. THORNOCK ABSTRACT We empirically investigate one form of illegal investor-level tax evasion and its effect on foreign portfolio investment. In particular, we examine a form of round-tripping tax evasion in which U.S. individuals hide funds in entities located in offshore tax havens and then invest those funds in U.S. securities markets. Employing Becker's ([Becker, Gary S., 1968]) economic theory of crime, we identify the tax evasion component by examining how foreign portfolio investment varies with changes in the incentives to evade and the risks of detection. To our knowledge, this is the first empirical evidence of investor-level tax evasion affecting cross-border equity and debt investment. Article Note: Hanlon is with the Sloan School of Management, Massachusetts Institute of Technology; Maydew is with the Kenan-Flagler Business School, University of North Carolina at Chapel Hill; Thornock is with the Foster School of Business, University of Washington. We appreciate comments from Bob Bowen; Dhammika Dharmapala (discussant); John Gallemore; Jeremiah Green; Cam Harvey (Editor); Frank Hodge; Jeff Hoopes; Dawn Matsumoto; Lil Mills; Terry Shevlin; D. Shores; Stephan Siegel; Joel Slemrod; Erin Towery; Luke Watson; Brady Williams; Jeffrey Wooldridge; three anonymous referees; two Associate Editors; an advisor; seminar participants at the 2010 National Tax Association meetings, European Institute for Advanced Studies in Management 2011 Workshop on Current Research on Taxation at the University of Munster, Columbia University, Internal Revenue Service, New York University Law School Colloquium, Northwestern University, Pennsylvania State University, Rice University, Texas A&M University, University of Chicago, University of Texas at Austin, University of Utah, and University of Washington; and staff of the U.S. Senate Committee on Homeland Security and Governmental Affairs and Permanent Subcommittee on Investigations. Editor: Campbell Harvey Supporting information: Additional Supporting Information may be found in the online version of this article Additional Supporting Information may be found in the online version of this article at the publisher's website: CAPTION(S): Appendix S1: Internet Appendix.
  • Ngôn ngữ: English
  • Số nhận dạng: ISSN: 0022-1082

Đang tìm Cơ sở dữ liệu bên ngoài...