Firm valuation effects of the expatriation of U.S. corporations to tax-haven countries

Journal of the American Taxation Association

Volumn 25, Issue , 2003, Pages 87-109

  Cloyd, C Bryan ^a   Mills, Lillian F ^b   Weaver, Connie D ^c  

^a UNIVERSITY OF ILLINOIS AT URBANA CHAMPAIGN   (United States)

^b UNIVERSITY OF ARIZONA   (United States)

^c UNIVERSITY OF TEXAS   (United States)

Author keywords

Corporate expatriation; Inversion; Merger; Tax haven

Indexed keywords

EID: 14544284140     PISSN: 01989073     EISSN: 15588017     Source Type: Journal    
DOI: 10.2308/jata.2003.25.s-1.87     Document Type: Article

References (33)

1. Boatsman, J. R., S. Gupta, and C. D. Weaver. 2002. Tax management, sustainable competitive advantage, and the effects of tax reform. Working paper, Arizona State University and The University of Texas at Austin.
2. Cloyd, C. B., L. F. Mills, and C. D. Weaver. 2003. Market non-reaction to inversions. Tax Notes (January 13): 259-262.
3. Desai, M., and J. Hines, Jr. 2002. Expectations and expatriations: Tracing the causes and consequences of corporate inversions. National Tax Journal 55 (3): 409-440.
4. Gnaedinger, C. 2002. Observers note link between Thomas bill, U.S. tax treaties. Tax Notes Today (August 30).
5. Gupta, S., and K. J. Newberry. 1997. Determinants of the variability in corporate effective tax rates: Evidence from longitudinal data. Journal of Accounting and Public Policy 16 (1): 1-35.
6. Hand, J. R. 1993. Resolving LIFO uncertainty: A theoretical and empirical reexamination of 1974-1975 LIFO adoptions and nonadoptions. Journal of Accounting Research 31 (1): 21-49.
7. Hanlon, M., and T. Shevlin. 2002. Accounting for tax benefits of employee stock options and implications for research. Accounting Horizons 16 (1): 1-16.
8. Hines, J. R. 1993. On the sensitivity of R&D to delicate tax changes: The behavior of U.S. multinationals in the 1980s. In Studies in International Taxation, edited by Alberto Giovannini, R. Glenn Hubbard, and Joel Slemrod, 149-187. Chicago, IL: University of Chicago Press.
9. Johnston, D. C. 2002a. U.S. corporations are using Bermuda to slash tax bills. New York Times (February 18): A1.
10. Johnston, D. C. 2002b. Officers may gain more than investor in move to Bermuda. New York Times (May 20): A1.
11. Johnston, D. C. 2002c. Bermuda move may sound good, but investors could get burned. New York Times (June 13): C1.
12. Mills, L., K. Newberry, and G. Novack. 2003. How well do Compustat NOL data identify firms with U.S. tax return loss carryovers? The Journal of the American Taxation Association 25 (2): 1-17.
13. National Foreign Trade Council (NFTC). 2001. The NFTC Foreign Income Project: International Tax Policy. Conclusions and Recommendations, Fred F. Murray, editor-in-chief. December 15. New York, NY: NFTC.
14. National Foreign Trade Council (NFTC). 2002. Territorial Tax Study Report. June 11. New York, NY: NFTC.
15. Newberry, K. 1998. Foreign tax credit limitations and capital structure decisions. Journal of Accounting Research 36: 157-166.
16. Nicklaus, D. 2001. Engineering, construction companies fare well in stock market. St. Louis Post-Dispatch (April 14): Business Section, 1.
17. Noreen, E. W. 1989. Computer Intensive Methods for Testing Hypotheses: An Introduction. New York, NY: John Wiley & Sons, Inc.
18. Pecarich, P. 2002. AICPA comments on corporate inversion transactions. Tax Notes Today (July 5).
19. Plitch, P. 2002. Reincorporations face new fight over shareholder rights. Dow Jones Newswire (May 17).
20. PricewaterhouseCoopers. 2002. Inversions: The rising storm. Presented at The Tax Colloquium, San Antonio, TX, August 12-13.
21. Rojas, W. 2002. Stanley Works abandons planned Bermuda inversion. Tax Notes International (August 12): 762.
22. Seida, J., and W. Wempe. 2002. Market reaction to corporate inversion transactions. Tax Notes (November 26): 1098.
23. Sheppard, L. 2002a. Preventing corporate inversions, part 1. Tax Notes (April 1): 29.
24. Sheppard, L. 2002b. Preventing corporate inversions, part 2. Tax Notes (May 6): 816.
25. Sheppard, L. 2002c. Preventing corporate inversions, part 3. Tax Notes (June 24): 1864.
26. Sidel, R. 2002. Cooper resurrects plan to reincorporate in Bermuda, which will lower tax rate. Wall Street Journal (February 14): B8.
27. Staffaroni, R. 1999. Size matters: Section 367(a) and acquisitions of U.S. corporations by foreign corporations. The Tax Lawyer (Spring).
28. Sullivan, M. 2002. The U.S. Congress's inversion odyssey: Oh, the places you'll go. Tax Notes International (July 8): 150.
29. Thompson, S. 2002a. Section 367: A "wimp" for inversions and a "bully'' for real cross-border acquisitions. Tax Notes (March 18): 1505.
30. Thompson, S. 2002b. Inversion hearings focus on wrong issues. Tax Notes International (July 8): 193.
31. U.S. Department of the Treasury, Office of Tax Policy. 2002. Corporate Inversion Transactions: Tax Policy Implications. May. Washington, D.C.: Government Printing Office.
32. Weimer, D. 1998. A killing in the Caymans? Business Week (May 11): 50.
33. Willens, R. 2002. "REPO" legislation would tighten "interest stripping" rules. Lehman Brothers Tax & Accounting 15 (71): May 17.