search query: @author Shackelford, D. A. / total: 5
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| Author: | Collins, J. H. Shackelford, D. A. |
| Title: | Foreign tax credit limitations and preferred stock issuances |
| Journal: | Journal of Accounting Research
1992 : VOl. 30, p. 103-130 |
| Index terms: | TAX CREDITS TAX LAW USA |
| Language: | eng |
| Abstract: | This study provides evidence that U.S. multinational corporations issued preferred stock in response to the more stringent interest allocation rules and foreign tax credit limitations enacted in the 1986 Tax Act. The authors find that the percentage of worldwide assets domiciled abroad is positively related to increases in preferred stock from 1986 to 1989, but not during the period 1982 to 1985. In addition, the ratio of foreign assets to worldwide assets is not significantly related to changes in other capital sources (common stock and debt). |
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