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Taxation and Leverage in International Banking (Record no. 157201)

000 -LEADER
fixed length control field	02715nam a22004574a 4500
001 - CONTROL NUMBER
control field	WPIEA2012281
003 - CONTROL NUMBER IDENTIFIER
control field	IMF
005 - DATE AND TIME OF LATEST TRANSACTION
control field	20190405175748.0
006 - FIXED-LENGTH DATA ELEMENTS--ADDITIONAL MATERIAL CHARACTERISTICS--GENERAL INFORMATION
fixed length control field	m o d
007 - PHYSICAL DESCRIPTION FIXED FIELD--GENERAL INFORMATION
fixed length control field	cr cn\|\|\|\|\|\|\|\|\|
008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
fixed length control field	020129s2012 dcu o i00 0 eng d
020 ## - INTERNATIONAL STANDARD BOOK NUMBER
International Standard Book Number	1475572204 :
Terms of availability	18.00 USD
020 ## - INTERNATIONAL STANDARD BOOK NUMBER
Cancelled/invalid ISBN	9781475572209
022 ## - INTERNATIONAL STANDARD SERIAL NUMBER
International Standard Serial Number	1018-5941
024 7# - OTHER STANDARD IDENTIFIER
Standard number or code	10.5089/9781475572209.001
Source of number or code	doi
035 ## - SYSTEM CONTROL NUMBER
System control number	(IMF)WPIEA2012281
040 ## - CATALOGING SOURCE
Original cataloging agency	DcWaIMF
Language of cataloging	eng
100 1# - MAIN ENTRY--PERSONAL NAME
Personal name	Gu, Grace Weishi.
245 10 - TITLE STATEMENT
Title	Taxation and Leverage in International Banking
Medium	[electronic resource] /
Statement of responsibility, etc	Grace Weishi Gu.
260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT)
Place of publication, distribution, etc	Washington, D.C. :
Name of publisher, distributor, etc	International Monetary Fund,
Date of publication, distribution, etc	2012.
300 ## - PHYSICAL DESCRIPTION
Extent	1 online resource (35 p.)
490 1# - SERIES STATEMENT
Series statement	IMF Working Papers; Working Paper ;
Volume number/sequential designation	No. 12/281
520 3# - SUMMARY, ETC.
Summary, etc	This paper explores how corporate taxes affect the financial structure of multinational banks. Guided by a simple theory of optimal capital structure it tests (i) whether corporate taxes induce subsidiary banks to raise their debt-asset ratio in light of the traditional debt bias; and (ii) whether international corporate tax differentials vis-a-vis foreign subsidiary banks affect the intra-bank capital structure through international debt shifting. Using a novel subsidiary-level dataset for 558 commercial bank subsidiaries of the 86 largest multinational banks in the world, we find that taxes matter significantly, through both the traditional debt bias channel and the international debt shifting that is due to the international tax differentials. The latter channel is more robust and tends to be quantitatively more important. Our results imply that taxation causes significant international debt spillovers through multinational banks, which has potentially important implications for tax policy.
588 ## - SOURCE OF DESCRIPTION NOTE
Source of description note	Description based on print version record.
650 #7 - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name as entry element	Bank Taxation
Source of heading or term	imf
650 #7 - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name as entry element	Capital Requirement
Source of heading or term	imf
650 #7 - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name as entry element	Capital Structure
Source of heading or term	imf
650 #7 - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name as entry element	Corporate Tax
Source of heading or term	imf
650 #7 - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name as entry element	Debt Bias
Source of heading or term	imf
650 #7 - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name as entry element	International Tax
Source of heading or term	imf
651 #7 - SUBJECT ADDED ENTRY--GEOGRAPHIC NAME
Geographic name	Bosnia and Herzegovina
Source of heading or term	imf
651 #7 - SUBJECT ADDED ENTRY--GEOGRAPHIC NAME
Geographic name	Bulgaria
Source of heading or term	imf
651 #7 - SUBJECT ADDED ENTRY--GEOGRAPHIC NAME
Geographic name	Germany
Source of heading or term	imf
651 #7 - SUBJECT ADDED ENTRY--GEOGRAPHIC NAME
Geographic name	Spain
Source of heading or term	imf
651 #7 - SUBJECT ADDED ENTRY--GEOGRAPHIC NAME
Geographic name	United Kingdom
Source of heading or term	imf
700 1# - ADDED ENTRY--PERSONAL NAME
Personal name	Mooij, Ruud A. de.
700 1# - ADDED ENTRY--PERSONAL NAME
Personal name	Poghosyan, Tigran.
776 08 - ADDITIONAL PHYSICAL FORM ENTRY
Display text	Print Version:
Main entry heading	Gu, Grace Weishi.
Title	Taxation and Leverage in International Banking
Place, publisher, and date of publication	Washington, D.C. : International Monetary Fund, 2012.
International Standard Book Number	9781475572209
830 #0 - SERIES ADDED ENTRY--UNIFORM TITLE
Uniform title	IMF Working Papers; Working Paper ;
Volume number/sequential designation	No. 12/281
856 40 - ELECTRONIC LOCATION AND ACCESS
Uniform Resource Identifier	<a href="http://elibrary.imf.org/view/IMF001/20119-9781475572209/20119-9781475572209/20119-9781475572209.xml">http://elibrary.imf.org/view/IMF001/20119-9781475572209/20119-9781475572209/20119-9781475572209.xml</a>
Public note	IMF e-Library
856 40 - ELECTRONIC LOCATION AND ACCESS
Uniform Resource Identifier	<a href="http://www.imfbookstore.org/IMFORG/9781475572209">http://www.imfbookstore.org/IMFORG/9781475572209</a>
Public note	IMF Book Store

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