2,907 research outputs found
FDI and Taxation: A Meta-Study
Despite the continuing political interest in the usefulness of tax competition and tax coordination as well as the wealth of theoretical analyses, it still remains open whether or when tax competition is harmful. Moreover, the influence of tax differentials on multinationals' decisions is still insufficiently analyzed. Thus, economists have increasingly resorted to empirical analysis in order to gain insights on the elasticity of FDI with respect to company taxation. As a result, the empirical literature on taxation and international capital flows has grown to a similar abundance during the last 25 years as the respective theoretical literature. Its heterogeneity leads to a rising need for concise reviews on the existing empirical evidence. In this paper we extend former meta-analyses on FDI and taxation in three ways. First, we add the most recent publications unconsidered in meta-analyses up-to-date. Second, we apply a different methodology by using a broad set of meta-regression estimators and explicitly discuss which one is most suitable for application to our meta-data. Third, we address some important issues in research on FDI and taxation to the clarification of which meta-analysis can make valuable contributions. These issues are mainly: The influence of variables which might moderate effects of tax differentials (e.g. public spending), the implications of using aggregate FDI data as opposed to firm-level information on measured tax effects, the implications of bilateral effective tax rates, and the possible presence of publication bias in primary research. --Corporate Income Taxation,Foreign Direct Investment,Meta Analysis
FDI and Taxation: A Meta-Study
Despite the continuing political interest in the usefulness of tax competition and tax coordination as well as the wealth of theoretical analyses, it still remains open whether or when tax competition is harmful. Moreover, the influence of tax differentials on multinationals’ decisions is still insufficiently analyzed. Thus, economists have increasingly resorted to empirical analysis in order to gain insights on the elasticity of FDI with respect to company taxation. As a result, the empirical literature on taxation and international capital flows has grown to a similar abundance during the last 25 years as the respective theoretical literature. Its heterogeneity leads to a rising need for concise reviews on the existing empirical evidence. In this paper we extend former meta-analyses on FDI and taxation in three ways. First, we add the most recent publications unconsidered in meta-analyses up-to-date. Second, we apply a different methodology by using a broad set of meta-regression estimators and explicitly discuss which one is most suitable for application to our meta-data. Third, we address some important issues in research on FDI and taxation to the clarification of which meta-analysis can make valuable contributions. These issues are mainly: The influence of variables which might moderate effects of tax differentials (e.g. public spending), the implications of using aggregate FDI data as opposed to firm-level information on measured tax effects, the implications of bilateral effective tax rates, and the possible presence of publication bias in primary research.corporate income taxation, foreign direct investment, meta analysis
Capital Structure Choice and Company Taxation: A Meta-Study
This paper provides a quantitative review of the empirical literature on the tax impact on corporate debt financing. Synthesizing the evidence from 46 previous studies, we find that this impact is substantial. In particular, the tax rate proxy determines the outcome of primary analyses. Measures like the simulated marginal tax rate (Graham (1996a)) avoid a downward bias in estimates for the debt response to tax. Moreover, debt characteristics, econometric specifications, and the set of control-variables affect tax effects. Accounting for misspecification biases by means of meta-regressions, we predict a marginal tax effect on the debt ratio of 0.3.capital structure, corporate income tax, meta-analysis
Thermodynamics of Blue Phases In Electric Fields
We present extensive numerical studies to determine the phase diagrams of
cubic and hexagonal blue phases in an electric field. We confirm the earlier
prediction that hexagonal phases, both 2 and 3 dimensional, are stabilized by a
field, but we significantly refine the phase boundaries, which were previously
estimated by means of a semi-analytical approximation. In particular, our
simulations show that the blue phase I -- blue phase II transition at fixed
chirality is largely unaffected by electric field, as observed experimentally.Comment: submitted to Physical Review E, 7 pages (excluding figures), 12
figure
Local effective dynamics of quantum systems: A generalized approach to work and heat
By computing the local energy expectation values with respect to some local
measurement basis we show that for any quantum system there are two
fundamentally different contributions: changes in energy that do not alter the
local von Neumann entropy and changes that do. We identify the former as work
and the latter as heat. Since our derivation makes no assumptions on the system
Hamiltonian or its state, the result is valid even for states arbitrarily far
from equilibrium. Examples are discussed ranging from the classical limit to
purely quantum mechanical scenarios, i.e. where the Hamiltonian and the density
operator do not commute.Comment: 5 pages, 1 figure, published versio
Rheology of Lamellar Liquid Crystals in Two and Three Dimensions: A Simulation Study
We present large scale computer simulations of the nonlinear bulk rheology of
lamellar phases (smectic liquid crystals) at moderate to large values of the
shear rate (Peclet numbers 10-100), in both two and three dimensions. In two
dimensions we find that modest shear rates align the system and stabilise an
almost regular lamellar phase, but high shear rates induce the nucleation and
proliferation of defects, which in steady state is balanced by the annihilation
of defects of opposite sign. The critical shear rate at onset of this second
regime is controlled by thermodynamic and kinetic parameters; we offer a
scaling analysis that relates the critical shear rate to a critical "capillary
number" involving those variables. Within the defect proliferation regime, the
defects may be partially annealed by slowly decreasing the applied shear rate;
this causes marked memory effects, and history-dependent rheology. Simulations
in three dimensions show instead shear-induced ordering even at the highest
shear rates studied here. This suggests that the critical shear rate shifts
markedly upward on increasing dimensionality. This may in part reflect the
reduced constraints on defect motion, allowing them to find and annihilate each
other more easily. Residual edge defects in the 3D aligned state mostly point
along the flow velocity, an orientation impossible in two dimensions.Comment: 18 pages, 12 figure
Quantum Transport with Spin Dephasing: A Nonequilibrium Green's Function Approach
A quantum transport model incorporating spin scattering processes is
presented using the non-equilibrium Green's function (NEGF) formalism within
the self-consistent Born approximation. This model offers a unified approach by
capturing the spin-flip scattering and the quantum effects simultaneously. A
numerical implementation of the model is illustrated for magnetic tunnel
junction devices with embedded magnetic impurity layers. The results are
compared with experimental data, revealing the underlying physics of the
coherent and incoherent transport regimes. It is shown that small variations in
magnetic impurity spin-states/concentrations could cause large deviations in
junction magnetoresistances.Comment: NEGF Formalism, Spin Dephasing, Magnetic Tunnel Junctions,
Magnetoresistanc
Driven Spin Systems as Quantum Thermodynamic Machines: Fundamental Limits
We show that coupled two level systems like qubits studied in quantum
information can be used as a thermodynamic machine. At least three qubits or
spins are necessary and arranged in a chain. The system is interfaced between
two split baths and the working spin in the middle is externally driven. The
machine performs Carnot-type cycles and is able to work as heat pump or engine
depending on the temperature difference of the baths and the energy
differences in the spin system . It can be shown that the efficiency
is a function of and .Comment: 9 pages, 11 figures, accepted for publication in Phys. Rev.
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