Multivariate analysis of ownership-motivated income shifting
| Ownership-motivated and tax-motivated income shifting between pairs of subsidiaries | |||
|---|---|---|---|
| Dependent variable ln(PBT) | Exp. Sign. | Model 3 | |
| Estimate | p-value | ||
| C tax foreign subsidiaries | − | −0.055 | 0.170 |
| Ownership subsidiaries | + | 0.536 | 0.010 |
| ln(TangibleAssets) | + | 0.157 | <0.001 |
| ln(CompExp) | + | 0.570 | <0.001 |
| ln(GDP) | ? | 0.527 | <0.001 |
| Constant | −3.869 | 0.001 | |
| Year and parent firm fixed effects | included | ||
| Adj. R2 | 0.486 | ||
| Number of observation | 1,690 | ||
| Ownership-motivated and tax-motivated income shifting between pairs of subsidiaries | |||
|---|---|---|---|
| Dependent variable ln(PBT) | Exp. Sign. | Model 3 | |
| Estimate | |||
| − | −0.055 | 0.170 | |
| Ownership subsidiaries | + | 0.536 | 0.010 |
| ln(TangibleAssets) | + | 0.157 | <0.001 |
| ln(CompExp) | + | 0.570 | <0.001 |
| ln(GDP) | ? | 0.527 | <0.001 |
| Constant | −3.869 | 0.001 | |
| included | |||
| 0.486 | |||
| Number of observation | 1,690 | ||
Note(s): Coefficient p-values are one-tailed. Refer to Appendix for variable definitions
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