Tax avoidance through securitization

A. Uhde, The Quarterly Review of Economics and Finance (2020).

Download
No fulltext has been uploaded.
Journal Article | English
Abstract
Employing a unique hand-collected sample of 956 credit risk securitization transactions issued by 64 stock-listed European banks across the EU-13 plus Switzerland over the period from 1997 to 2010, this paper empirically analyzes the impact of securitization on the issuing banks’ effective tax rates. Our analysis reveals that banks may reduce their tax expense through securitization via a direct and indirect channel suggesting that tax avoidance may be a further motive for banks to engage in the securitization business. These baseline findings remain robust under various robustness checks, especially when implementing structural equation models and controlling for a reverse causality between the banks’ tax burden and their incentive to securitize. Finally, various sensitivity analyses provide further important results and implications for tax policies, banking regulation and the ongoing process of revitalizing the European securitization market.
Publishing Year
Journal Title
The Quarterly Review of Economics and Finance
LibreCat-ID

Cite this

Uhde A. Tax avoidance through securitization. The Quarterly Review of Economics and Finance. 2020. doi:10.1016/j.qref.2020.07.008
Uhde, A. (2020). Tax avoidance through securitization. The Quarterly Review of Economics and Finance. https://doi.org/10.1016/j.qref.2020.07.008
@article{Uhde_2020, title={Tax avoidance through securitization}, DOI={10.1016/j.qref.2020.07.008}, journal={The Quarterly Review of Economics and Finance}, author={Uhde, André}, year={2020} }
Uhde, André. “Tax Avoidance through Securitization.” The Quarterly Review of Economics and Finance, 2020. https://doi.org/10.1016/j.qref.2020.07.008.
A. Uhde, “Tax avoidance through securitization,” The Quarterly Review of Economics and Finance, 2020.
Uhde, André. “Tax Avoidance through Securitization.” The Quarterly Review of Economics and Finance, 2020, doi:10.1016/j.qref.2020.07.008.

Export

Marked Publications

Open Data LibreCat

Search this title in

Google Scholar