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040			_aCO-BoUGC _cCO-BoUGC
100	1		_aHopland, Arnt O. _9176751
245	1	0	_aFlexibility in income shifting under losses _cArnt O' Hopland, Petro Lisowsky, Mohammed Mardan & Dirk Schindler
300			_aPáginas 163 a la 183
520	3		_aThis study examines the flexibility of multinational firms to adjust their income-shifting strategies—whether using transfer pricing or internal debt—during the tax year to react to affiliates' operating losses. We develop the concept that under flexibility, multinationals can adjust their inter-affiliate payments ex post (i.e., after financial outcomes are revealed, but before the end of the tax year) to minimize worldwide tax payments. Without flexibility, multinationals must commit to their affiliates' income-shifting strategies ex ante (i.e., before financial outcomes are revealed). Our central prediction is that under ex post income shifting, loss affiliates report lower transfer prices and internal leverage than profitable affiliates; under ex ante income shifting, affiliates report the same transfer prices and internal capital structure, regardless of making losses. Using novel data on direct transfer payments and internal debt of Norwegian affiliates, we find empirical evidence that transfer pricing, particularly related to user fees, but not internal debt, provides flexibility to adjust income shifting ex post. In additional tests, we confirm that our results reflect flexibility rather than loss affiliates' poor performance. Our study should interest tax policymakers and researchers by identifying how various mechanisms allow multinational firms to shift income when they face losses.
650	1	4	_991036 _aContabilidad _vPublicaciones seriadas
650	2	4	_aEmpresas internacionales _vPublicaciones seriadas _9176752
650	2	4	_9176583 _aImpuestos _xLegislación _vPublicaciones seriadas
690			_aBienes públicos internacionales _9176753
700	1		_aLisowsky, Petro _9176754
700	1		_aMardan, Mohammed _9176755
700	1		_aSchindler, Dirk _9176756
773	0		_082265 _9378922 _aThe accounting review 2018 V.93 No.3 (Jul) _o0000002033702 _x0001-4826 (papel) _h21 páginas _nIncluye tablas, referencias bibliográficas y apéndices
942			_2ddc _cART