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Die Bedeutung von Unternehmenssteuern bei Fusionen und Übernahmen (M&A)

Die Bedeutung von Unternehmenssteuern bei Fusionen und Übernahmen (M&A)

          
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About the Book

Masterarbeit aus dem Jahr 2017 im Fachbereich BWL - Rechnungswesen, Bilanzierung, Steuern, Note: 1,0, Eberhard-Karls-Universität Tübingen, Sprache: Deutsch, Abstract: Grenzüberschreitende M&A stellen innerhalb von multinationalen Konzernen eine wesentliche Investitionsform dar. Das Investitionsvolumen von internationalen M&A ist im Jahr 2015 um knapp über 70 Prozent von USD 423 auf USD 721 Milliarden angestiegen. Damit haben diese einen maßgebenden Anteil in der Höhe von circa 41 Prozent an den FDIs (Foreign Direct Investment). Erkenntnisgewinne über die Einflussfaktoren von M&A geben infolgedessen auch unmittelbaren Aufschluss über die Determinanten von Unternehmensinvestitionen im Allgemeinen. In der bestehenden Literatur gibt es diesbezüglich einige empirische Studien, die darauf abzielen, zukünftige Zielunternehmen und deren Charakteristika ausfindig zu machen. Diese Studien haben die Absicht, eine möglichst hohe Vorhersagegenauigkeit von zukünftigen Zielunternehmen zu erreichen, wodurch attraktive Investitionen mit außergewöhnlichen Renditen möglich sind. Die Auswirkungen von Unternehmenssteuern auf die M&A-Transaktionen wird hierbei jedoch weitestgehend vernachlässigt. Diese könnten jedoch eine entscheidende Rolle im Rahmen von internationalen M&A spielen, wenn man sich vor Augen führt, dass beispielweise die größten 50 U.S.-Konzerne rund USD 1,6 Billionen ihrer Unternehmensgewinne aus dem Jahr 2015 in Steueroasen geparkt haben. Dies entspricht der gesamten jährlichen Wirtschaftsleistung von Kanada. In dieser empirischen Arbeit wird der Einfluss von Unternehmenssteuern auf die Übernahmewahrscheinlichkeit eines Unternehmens untersucht. Die steuerlichen Determinanten bilden hierbei die tariflichen Steuersätze der einzelnen Länder sowie die daraus entwickelten Extremsteuersätze zur Messung von Einkommensverlagerungsanreizen, der Effizienzgrad der Steuervermeidung von Firmenmanagern und die steuerlichen Verlustvorträge. Demzufolge werden


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Product Details
  • ISBN-13: 9783668526389
  • Publisher: Bod Third Party Titles
  • Publisher Imprint: Grin Verlag
  • Height: 210 mm
  • No of Pages: 56
  • Spine Width: 3 mm
  • Width: 148 mm
  • ISBN-10: 3668526389
  • Publisher Date: 20 Sep 2017
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Weight: 86 gr


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