Taxes, keiretsu affiliation, and income shifting

Article Abstract:

Empirical evidence is provided to show that keiretsu group member firms are subjected to lower effective tax rates than independent firms in Japan. The income-shifting hypothesis is supported by the empirical evidence as the positive relation between pre-tax return on firm value and marginal tax rate status are significantly mitigated by keiretsu membership and the benefactors of shifted income are compensated via increased dividends.

Public Finance Activities, Tax Administration, Tax Rates, Analysis, Tax administration and procedure

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Management turnover across the corporate hierarchy

Article Abstract:

The management turnover for the top five executives, including CEOs and non-CEOs, employed by 443 large corporations from 1993 to 1998 is studied to evaluate the corporate hierarchy. It is concluded that there is an active managerial labor market both within and across firms.

Evaluation, Organizational structure

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In search of reason

Article Abstract:

The issue of higher executive pay, in the context of chief financial officer Mark H. Swartz of Tyco International Ltd., is discussed.

Executive changes & profiles, Personnel administration, Communications equipment, not elsewhere classified, Bermuda, Editorial, Officials and employees, Compensation and benefits, Security systems industry, TYC, Swartz, Mark H., Tyco International Ltd. (Pembroke, Bermuda)

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