Our article on how corporate tax inversions impact shareholders' wealth is now available on Columbia Law School blog: http://clsbluesky.law.columbia.edu/2019/04/10/how-u-s-tax-inversions-affect-shareholder-wealth/.
Showing posts with label US Tax Inversions. Show all posts
Showing posts with label US Tax Inversions. Show all posts
Wednesday, April 10, 2019
10/4/19: How US Tax Inversions Affect Shareholder Wealth
Our article on how corporate tax inversions impact shareholders' wealth is now available on Columbia Law School blog: http://clsbluesky.law.columbia.edu/2019/04/10/how-u-s-tax-inversions-affect-shareholder-wealth/.
Wednesday, January 9, 2019
9/1/19: Corporate tax inversions and shareholder wealth
Our new paper "U.S. Tax Inversions and Shareholder Wealth" has been accepted for publication in the International Review of Financial Analysis:
The paper abstract:
"We examine a sample of corporate inversions from 1993-2015 by firms active in the U.S. markets and find that shareholders experience positive abnormal returns in the short-run. In the long-run, inversions have a deleterious effect on shareholder wealth. The form of the inversion and country-pair differences in geographic distance, economic development and corporate governance standards are determinants of shareholder wealth. Furthermore, we find evidence of a negative and non-linear relation between CEO total return and long-run shareholder returns."
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