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Publications

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    • Faculty Publications  (55)

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    • All HBS Web  (159)
      • Faculty Publications  (55)

      Corporation TaxationRemove Corporation Taxation →

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      • September 2002 (Revised October 2002)
      • Case

      Corporate Inversions: Stanley Works and the Lure of Tax Havens

      By: Mihir A. Desai, James R. Hines, Jr and Mark Veblen
      In response to Stanley Work's announcement that it is moving to Bermuda--and the associated jump in market value--a major competitor sets out to determine how the market is valuing the consequences of moving to a tax haven and whether his company should invert to a tax... View Details
      Keywords: Financial Management; Taxation; Financial Strategy; Credit Derivatives and Swaps; International Finance; Valuation; Financial Markets; Financial Statements; United States
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      Desai, Mihir A., James R. Hines, Jr, and Mark Veblen. "Corporate Inversions: Stanley Works and the Lure of Tax Havens." Harvard Business School Case 203-008, September 2002. (Revised October 2002.)
      • March 2002 (Revised June 2003)
      • Case

      MAC Development Corporation

      By: Richard G. Hamermesh and Colleen McCaffrey
      Deals with MAC Development's efforts to develop a 41-acre site near Chicago. Reviews two years of efforts and highlights the remaining issues of: 1) gaining town approval for development and tax reductions, 2) meeting the bank's debt covenants, including finding a... View Details
      Keywords: Risk Management; Taxation; Financial Instruments; Borrowing and Debt; Asset Pricing; Construction Industry; Chicago
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      Hamermesh, Richard G., and Colleen McCaffrey. "MAC Development Corporation." Harvard Business School Case 802-140, March 2002. (Revised June 2003.)
      • January 2001 (Revised June 2001)
      • Case

      Local Initiatives Support Corporation

      By: James E. Austin and Kim Slack
      Local Initiatives Support Corp. (LISC) is a $74 million nonprofit social enterprise that combats poverty by helping community development organizations build affordable housing and create economic development opportunities through public-private partnerships. Poses a... View Details
      Keywords: Business Model; Development Economics; Education; Capital; Investment Funds; Taxation; Growth and Development; Partners and Partnerships; Nonprofit Organizations; Segmentation; Service Industry
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      Austin, James E., and Kim Slack. "Local Initiatives Support Corporation." Harvard Business School Case 301-124, January 2001. (Revised June 2001.)
      • November 2000
      • Background Note

      Note on Employee Stock Ownership Plans (ESOPs) and Phantom Stock Plans

      By: Dwight B. Crane and Indra Reinbergs
      Provides a brief overview of employee stock ownership plans (ESOPs) and phantom stock plans for owners of closely held companies. ESOPs can be used as a tool of corporate financing, and can provide employees with ownership interests. Phantom stock plans can reward... View Details
      Keywords: Financing and Loans; Employee Stock Ownership Plan; Motivation and Incentives; Management Teams; Corporate Governance; Ownership Stake; Taxation
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      Crane, Dwight B., and Indra Reinbergs. "Note on Employee Stock Ownership Plans (ESOPs) and Phantom Stock Plans." Harvard Business School Background Note 201-034, November 2000.
      • February 1997
      • Case

      Transportation Displays, Incorporated (D): Exiting from a Successful Restructuring

      By: Stuart C. Gilson, Vincent Hemmer, Eric Rahe, David Shorrock and Stephen Voorhis
      Following a successful corporate turnaround and, more recently, a leveraged recapitalization, management of a highly profitable, fast--growing outdoor advertising company must consider alternative ways to harvest cash flow from the company without jeopardizing the... View Details
      Keywords: Restructuring; Capital; Cash Flow; Profit; Taxation; Private Ownership
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      Gilson, Stuart C., Vincent Hemmer, Eric Rahe, David Shorrock, and Stephen Voorhis. "Transportation Displays, Incorporated (D): Exiting from a Successful Restructuring." Harvard Business School Case 297-085, February 1997.
      • December 1996
      • Background Note

      Financial Engineering and Tax Risk: The Case of Times Mirror PEPS

      By: Peter Tufano
      Provides general background on the taxation of corporate securities, and shows how the inconsistent taxation of functionally-similar securities can permit financial engineers to bear tax risk to earn positive returns. Designed to be used with Times Mirror Co. PEPS... View Details
      Keywords: Risk Management; Taxation; Corporate Finance
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      Tufano, Peter, Robert Santangelo, and Cameron Poetzscher. "Financial Engineering and Tax Risk: The Case of Times Mirror PEPS." Harvard Business School Background Note 297-056, December 1996.
      • April 1996 (Revised January 2006)
      • Case

      Times Mirror Company PEPS Proposal Review

      By: Peter Tufano
      Times Mirror Co. (TMC) owns a substantial block of Netscape common stock purchased prior to Netscape's IPO, on which it has substantial unrealized gains. TMC is restricted from selling the stock in a public offering and is therefore considering a proposal by Morgan... View Details
      Keywords: Risk Management; Stocks; Taxation; Corporate Finance; Telecommunications Industry; Media and Broadcasting Industry; United States
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      Tufano, Peter, and Cameron Poetzscher. "Times Mirror Company PEPS Proposal Review." Harvard Business School Case 296-089, April 1996. (Revised January 2006.)
      • 1995
      • Chapter

      Interest Allocation Rules, Financing Patterns, and the Operations of US Multinationals

      By: Kenneth A. Froot and James R. Hines Jr.
      Keywords: Corporation Taxation; Interest Deductibility; Cost of Capital; Taxation; Financing and Loans; Corporate Finance
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      Froot, Kenneth A., and James R. Hines Jr. "Interest Allocation Rules, Financing Patterns, and the Operations of US Multinationals." Chap. 10 in The Effects of Taxation on Multinational Corporations, edited by Martin S. Feldstein, James R. Hines Jr., and G. Hubbard, 277–312. University of Chicago Press, 1995. (Also featured in The NBER Digest, November 1994. Revised from NBER Working Paper No. 4924.)
      • 1995
      • Chapter

      The Tax Treatment of Interest and the Operations of U.S. Multinationals

      By: Kenneth A. Froot
      Keywords: Corporation Taxation; Interest Deductibility; Cost of Capital; Taxation; Financing and Loans; Corporate Finance
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      Froot, Kenneth A. "The Tax Treatment of Interest and the Operations of U.S. Multinationals." In Taxing Multinational Corporations, edited by M. Feldstein, J. Hines, and G. Hubbard, 81–93. University of Chicago Press, 1995.
      • 1995
      • Chapter

      Securities Transaction Taxes: What about International Experiences Migrating Markets?

      By: John Y. Campbell and Kenneth A. Froot
      Keywords: Corporation Taxation; Interest Deductibility; Cost of Capital; Taxation; Financing and Loans; Interest Rates; Corporate Finance
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      Campbell, John Y., and Kenneth A. Froot. "Securities Transaction Taxes: What about International Experiences Migrating Markets?" Chap. 4 in Securities Transaction Taxes: False Hopes and Unintended Consequences, edited by Suzanne Hammond, 110–142. Chicago: Irwin Professional Publishing, 1995. (Reprinted in Inversión y Finanzas, 1996.)
      • 1994
      • Chapter

      International Experiences with Securities Transaction Taxes

      By: K. A. Froot and J. Campbell
      Keywords: Corporation Taxation; Interest Deductibility; Cost Of Capital; Corporate Finance; Accounting; Borrowing and Debt; Financing and Loans; Interest Rates
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      Froot, K. A., and J. Campbell. "International Experiences with Securities Transaction Taxes." In The Internationalization of Equity Markets, edited by J. Frankel, 277–308. University of Chicago Press, 1994. (Revised from NBER Working Paper No. 4587, December 1993; also featured in The NBER Digest, May 1994.)
      • 1994
      • Other Unpublished Work

      Interest Allocation Rules and the Changing Cost of Debt Finance

      By: K. A. Froot and J. Hines
      Keywords: Corporation Taxation; Interest Deductibility; Cost of Capital; Taxation; Interest Rates; Borrowing and Debt; Corporate Finance
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      Froot, K. A., and J. Hines. "Interest Allocation Rules and the Changing Cost of Debt Finance." Harvard University, 1994.
      • 1994
      • Other Unpublished Work

      Losing Interest: Interest Allocation Rules and the Cost of Debt Finance

      By: K. A. Froot and J. Hines
      Keywords: Accounting; Corporation Taxation; Interest Deductibility; Cost Of Capital; Corporate Finance; Borrowing and Debt; Financing and Loans; Interest Rates
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      Froot, K. A., and J. Hines. "Losing Interest: Interest Allocation Rules and the Cost of Debt Finance." Harvard University, 1994.
      • March 1993
      • Teaching Note

      Note on U.S. Taxation of Foreign-Source Corporate Income (TN)

      By: W. Carl Kester
      Teaching Note for (9-292-101). View Details
      Keywords: Taxation; United States
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      Kester, W. Carl. "Note on U.S. Taxation of Foreign-Source Corporate Income (TN)." Harvard Business School Teaching Note 293-009, March 1993.
      • Article

      Corporate Financial Policy and Taxation in a Growing Economy

      By: M. Feldstein, Jerry R. Green and Eytan Sheshinski
      Citation
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      Feldstein, M., Jerry R. Green, and Eytan Sheshinski. "Corporate Financial Policy and Taxation in a Growing Economy." Quarterly Journal of Economics 93, no. 3 (August 1979): 411–432.
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