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by Mihir A. Desai, C. Fritz Foley Remove by Mihir A. Desai, C. Fritz Foley →

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  • March 2016
  • Article

Trade Credit and Taxes

By: Mihir Desai, C. Fritz Foley and James R. Hines Jr.
This paper analyzes the extent to which firms use trade credit to reallocate capital in response to tax incentives. Tax-induced differences in pretax returns encourage the use of trade credit to reallocate capital from firms facing low tax rates to those facing high... View Details
Keywords: Taxation; Trade; Credit; Capital
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  • Article

Tax Policy and the Efficiency of U.S. Direct Investment Abroad

By: Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.
Deferral of U.S. taxes on foreign source income is commonly characterized as a subsidy to foreign investment, as reflected in its inclusion among "tax expenditures" and occasional calls for its repeal. This paper analyzes the extent to which tax deferral and other... View Details
Keywords: International Taxation; Dynamic Efficiency; Deferral; Policy; Taxation; Performance Efficiency; Foreign Direct Investment; Investment Funds; Investment Return; Business Earnings; Equity; Financing and Loans; Cash Flow; Capital; United States
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  • 2011
  • Working Paper

Tax Policy and the Efficiency of U.S. Direct Investment Abroad

By: Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.
Deferral of U.S. taxes on foreign source income is commonly characterized as a subsidy to foreign investment, as reflected in its inclusion among "tax expenditures" and occasional calls for its repeal. This paper analyzes the extent to which tax deferral and other... View Details
Keywords: Cash Flow; Investment Return; Foreign Direct Investment; Investment Funds; Policy; Taxation; United States
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  • February 2009
  • Journal Article

Domestic Effects of the Foreign Activities of U.S. Multinationals

By: Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.
Do firms investing abroad simultaneously reduce their domestic activity? This paper analyzes the relationship between the domestic and foreign operations of American manufacturing firms between 1982 and 2004 by instrumenting for changes in foreign operations with GDP... View Details
Keywords: Foreign Direct Investment; Global Range; Local Range; Multinational Firms and Management; Compensation and Benefits; Operations; Manufacturing Industry; United States
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  • November 2008
  • Journal Article

Financial Constraints and Growth: Multinational and Local Firm Responses to Currency Crises

By: Mihir A. Desai, C. Fritz Foley and Kristin Forbes
This paper examines how financial constraints and product market exposures determine the response of multinational and local firms to sharp depreciations. U.S. multinational affiliates increase sales, assets, and investment significantly more than local firms during,... View Details
Keywords: Economic Growth; Financial Crisis; Currency; Private Equity; Foreign Direct Investment; Multinational Firms and Management; Emerging Markets; United States
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  • June 2008
  • Article

Capital Structure with Risky Foreign Investment

By: Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.
Keywords: Capital; Risk and Uncertainty; Foreign Direct Investment
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  • Article

Dividend Policy inside the Multinational Firm

By: Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.
Keywords: Profit; Policy; Business Ventures
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  • March 2007
  • Article

The Internal Markets of Multinational Firms

By: Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.
Keywords: Markets; Business Ventures
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  • 2007
  • Working Paper

Multinational Firms, FDI Flows and Imperfect Capital Markets

By: Pol Antras, Mihir A. Desai and C. Fritz Foley
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  • 2006
  • Chapter

The Comovement of Returns and Investment within International Firms

By: Mihir A. Desai and C. Fritz Foley
Keywords: Multinational Firms and Management; Investment Return; Foreign Direct Investment
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  • March 2006
  • Article

The Demand for Tax Haven Operations

By: Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.
Keywords: Taxation
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  • February 2006
  • Article

Do Tax Havens Divert Economic Activity?

By: Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.
Keywords: Taxation; Economics
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  • February 2006
  • Article

Taxation and Multinational Activity; New Evidence, New Interpretations

By: Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.
Keywords: Taxation; Information
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  • Article

Capital Controls, Liberalizations, and Foreign Direct Investment

By: Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.
Keywords: Foreign Direct Investment; Capital
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  • 2005
  • Working Paper

Capital Structure with Risky Foreign Investment

By: Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.
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  • 2005
  • Other Unpublished Work

Foreign Direct Investment and Domestic Economic Activity

By: Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.
Keywords: Foreign Direct Investment
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  • May 2005
  • Article

Foreign Direct Investment and the Domestic Capital Stock

By: Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.
Keywords: Foreign Direct Investment; Capital; Stocks
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  • 2005
  • Working Paper

Capital Structure with Risky Foreign Investment

By: Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.
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  • 2005
  • Working Paper

Foreign Direct Investment and the Domestic Capital Stock

By: Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.
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  • December 2004
  • Article

A Multinational Perspective on Capital Structure Choice and Internal Capital Markets

By: Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.
Keywords: Global Range; Perspective; Capital; Decision Choices and Conditions; Markets
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