Real Effects of Private Country-by-Country Disclosure
نویسندگان
چکیده
ABSTRACT We investigate the effects of mandatory private Country-by-Country Reporting (CbCR) to European tax authorities on multinational firms' capital and labor investments, as well their organizational structures. exploit threshold-based application this 2016 disclosure rule conduct difference-in-differences regression discontinuity tests. document increases in expenditures Europe, but these are more pronounced countries with preferential regimes. Cross-sectional tests analysis using consolidated financial data provide evidence consistent firms reallocating across Europe mitigate increased enforcement risk, CbCR hindering investment efficiency. also find responding by reducing complexity. Collectively, our results support conclusion that causes change real activities substantiate avoidance while appearance aggressive practices. JEL Classifications: H20; H25; H26; H32; K22; L51; M41; M48; O47.
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ژورنال
عنوان ژورنال: The Accounting Review
سال: 2021
ISSN: ['1558-7967', '0001-4826']
DOI: https://doi.org/10.2308/tar-2020-0714