The Tax Sensitivity of Foreign Direct Investment: Evidence from Firm-Level Panel Data

Understanding the determinants of foreign direct investment (FDI) is important for analyzing capital flows and the industrial organization of multinational firms. Most empirical studies of FDI, however, have focused on case studies of nontax factors in overseas investment decisions or on discerning reduced-form relationships between some measure of FDI and variables relating to nontax and tax aspects of the investment decision. In this paper, we examine the effects of taxation on FDI using previously unexplored (for this purpose) panel data on FDI by subsidiaries of U.S. multinational firms collected by Compustat's geographic segment file project. These firm- level data contain information on new capital investment overseas which enable us to measure tax influences on FDI more precisely and allow us to focus on structural models of subsidiaries' investment decision. Our empirical results cast significant doubt on the simplest notion that 'taxes don't matter' for U.S. firms' FDI decisions. Tax parameters influence FDI in precisely the way indicated by neoclassical models. Our results also lend support to the application of the 'tax capitalization' model to the study of dividend repatriation and foreign direct investment decisions.

Robust Logic Gates and Realistic Quantum Computation

The composite rotation approach has been used to develop a range of robust quantum logic gates, including single qubit gates and two qubit gates, which are resistant to systematic errors in their implementation. Single qubit gates based on the BB1 family of composite rotations have been experimentally demonstrated in a variety of systems, but little study has been made of their application in extended computations, and there has been no experimental study of the corresponding robust two qubit gates to date. Here we describe an application of robust gates to Nuclear Magnetic Resonance (NMR) studies of approximate quantum counting. We find that the BB1 family of robust gates is indeed useful, but that the related NB1, PB1, B4 and P4 families of tailored logic gates are less useful than initially expected.Comment: 6 pages RevTex4 including 5 figures (3 low quality to save space). Revised at request of referee and incorporting minor corrections and updates. Now in press at Phys Rev

Palatability of teff grass by horses

Most forages commonly used to feed horses have potential detriments including blister beetles or excessive fiber concentrations. Teff grass (T), a warm-season annual forage, has the potential to be a good alternative for horses because of its lack of observed disorders. Our objective was to compare preference by horses for T harvested under different conditions with that of bermudagrass (B) harvested at two maturities. Six different forages were evaluated: T harvested at the late vegetative stage (TLV), at late bloom but that incurred 33 mm of rainfall between mowing and baling (TLBR), with caryopsis visible (TES), or at soft dough (TSD), and B harvested at late vegetative (BLV) and mid-bloom (BMB) growth stages. Five mature horses were used in a balanced incomplete block design where each horse received a different combination of 4 forages each day for 6 d. The 4 different forages were suspended in hay nets in each corner of each stall, and each hay was offered at 50% of the average daily hay consumption measured during a 10-d adaptation period. Forage preference as measured by individual forage DM consumption (kg and % of total DM consumed across the 4 forages) was greatest (P\u3c 0.05) from TLV followed by BLV. Preference (kg and % of total DM consumed) of BMB was greater (P\u3c 0.05) than that of TMBR, TES, and TSD, which did not differ from each other (P ≥ 0.63). Therefore, within a specific growth stage, horses apparently preferred teff grass, but effects of maturity and rainfall had a more dramatic effect on preference by horses than forage species

The Role of Practicum and Intern Supervisees in Professional Identity Development

A strong professional counselor identity is vital for supervisees in training (Hansen, 2003). Supervision has been linked to enhancing the development of a professional identity in supervisees (Bernard & Goodyear, 2004). In a study of counselor interns, Weaks (2002) found supervisees require three core conditions in supervision necessary for developing a professional identity: equality, safety, and challenge. In a similar study, Howard, Inman, and Altman (2006) found beginning practicum supervisees experienced five critical incidents in their professional growth: professional identity, personal reactions, competence, supervision, and philosophy of counseling. The purpose of this study was to explore how practicum and internship supervisees across the two varying educational levels (practicum and internship) experience the development of a professional counselor identity in supervision. This study examined (a) whether internship supervisees experience the same five critical incidents in their development of a professional identity as practicum supervisees (Howard, Inman, & Altman; 2006), and (b) whether practicum supervisees require the same three core conditions (Weaks, 2002) necessary for developing a professional identity that internship supervisees experienced. My study found that internship supervisees experienced the same five critical incidents with fluctuation in their development of a professional identity as practicum supervisees in Howard et al.\u27s (2006) research. Conversely, practicum supervisees in my research did not require all three core conditions necessary for developing a professional identity that internship supervisees experienced in Weaks’ (2002) qualitative study. This study was significant in that it provided empirical research to assist supervisors and counselor educators in understanding the experiences of practicum and internship supervisees

The Role of Practicum and Intern Supervisees in Professional Identity Development

A strong professional counselor identity is vital for supervisees in training (Hansen, 2003). Supervision has been linked to enhancing the development of a professional identity in supervisees (Bernard & Goodyear, 2004). In a study of counselor interns, Weaks (2002) found supervisees require three core conditions in supervision necessary for developing a professional identity: equality, safety, and challenge. In a similar study, Howard, Inman, and Altman (2006) found beginning practicum supervisees experienced five critical incidents in their professional growth: professional identity, personal reactions, competence, supervision, and philosophy of counseling. The purpose of this study was to explore how practicum and internship supervisees across the two varying educational levels (practicum and internship) experience the development of a professional counselor identity in supervision. This study examined (a) whether internship supervisees experience the same five critical incidents in their development of a professional identity as practicum supervisees (Howard, Inman, & Altman; 2006), and (b) whether practicum supervisees require the same three core conditions (Weaks, 2002) necessary for developing a professional identity that internship supervisees experienced. My study found that internship supervisees experienced the same five critical incidents with fluctuation in their development of a professional identity as practicum supervisees in Howard et al.\u27s (2006) research. Conversely, practicum supervisees in my research did not require all three core conditions necessary for developing a professional identity that internship supervisees experienced in Weaks’ (2002) qualitative study. This study was significant in that it provided empirical research to assist supervisors and counselor educators in understanding the experiences of practicum and internship supervisees

The Curragh Incident, March, 1914, causes and effects

The exchange of the preceeding communications set off a politico-military crisis that has become known to students of British history as the Curragh Incident. In a very limited sense, the Curragh Incident--the refusal of a group of cavalry officers stationed in Ireland to accept orders from the War Office--began and ended during one tension-filled week in March, 1914. In a larger sense, the causes of the incident were rooted in the controversy over Home Rule for Ireland going back to the 1880\u27s and its effects carried on well into the period of World War I. The purpose of this paper is to identify the causes and effects of the Curragh Incident and to seek an historical lesson from the political and personal interactions surrounding the incident. The role f the miltary establishment as the servant of public policy in a liberal political regime will be a subject of speical interest

Differential Inhibition of Human Nav1.2 Resurgent and Persistent Sodium Currents by Cannabidiol and GS967

Many epilepsy patients are refractory to conventional antiepileptic drugs. Resurgent and persistent currents can be enhanced by epilepsy mutations in the Nav1.2 channel, but conventional antiepileptic drugs inhibit normal transient currents through these channels, along with aberrant resurgent and persistent currents that are enhanced by Nav1.2 epilepsy mutations. Pharmacotherapies that specifically target aberrant resurgent and/or persistent currents would likely have fewer unwanted side effects and be effective in many patients with refractory epilepsy. This study investigated the effects of cannbidiol (CBD) and GS967 (each at 1 μM) on transient, resurgent, and persistent currents in human embryonic kidney (HEK) cells stably expressing wild-type hNav1.2 channels. We found that CBD preferentially inhibits resurgent currents over transient currents in this paradigm; and that GS967 preferentially inhibits persistent currents over transient currents. Therefore, CBD and GS967 may represent a new class of more targeted and effective antiepileptic drugs