(w/ C. F. Foley and J. R. Hines Jr.) Journal of Financial Economics, 88:3 (June 2008), 534-553.
Political risks increase the volatility of multinational firm operating returns, prompting firms to adjust their capital structures.
Read MoreInvestable Tax Credits: The Case of the Low Income Housing Tax Credit→
/(w/ D. Dharmapala, M. Singhal)
This paper outlines a conceptual framework for exploring the conditions under which investable tax credits may be the most effective mechanism to deliver a production subsidy and discusses the desirability of employing investable tax credits in other policy domains.
Read MoreAmerica the Difficult→
/
The American, May/June 2008, reprinted in HBS Bulletin, July 2008.
Why the United States should put out the welcome mat to foreign direct investors.
Read MoreDomestic Effects of the Foreign Activities of U.S. Multinationals→
/(w/ C. F. Foley and J. R. Hines Jr.) American Economic Journal: Economic Policy 1:1 (February 2009), 181-203. (formerly titled “Foreign Direct Investment and Domestic Economic Activity”)
This paper analyzes the relationship between the domestic and foreign operations of American manufacturing firms between 1982 and 2004 by instrumenting for changes in foreign operations with GDP growth rates of the foreign countries in which they invest.
Read MoreDiscussion of “Transforming India”
/by A. Panagariya in India: An Emerging Giant
Arvind Panagariya has a written an exhaustive review of the state of the Indian economy and its future prospects.
Read MoreLabor and Capital Shares of the Corporate Tax Burden: International Evidence
/This paper develops and applies a simple framework for measuring the incidence of the corporate tax.
Read MoreTaxation and Corporate Governance: An Economic Approach→
/(w/ D. Dharmapala) Tax and Corporate Governance in MPI Studies on Intellectual Property, Competition and Tax Law, 3:1 (2008), 13-30.
How do the tax system and corporate governance arrangements interact?
Read MoreThe Bad Dream of Options Expensing Lingers→
/Published in The Financial Times
Remember the bad old days when we tricked ourselves into thinking stock options used to compensate executives did not need to be “expensed” on income statements?
Read MoreTestimony: Aligning the Accounting and Tax Treatment of Incentive Compensation
/Permanent Subcommittee on Investigations, Committee on Homeland Security and Governmental Affairs, U.S. Senate, Washington DC.
Read MoreTheft and Taxes→
/(w/ A. Dyck and L. Zingales) Journal of Financial Economics 84, no. 3 (June 2007), 591-623 (Lead Article).
This paper analyzes the interaction between corporate taxes and corporate governance.
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Mihir Desai's academic publications have appeared in leading economics, finance, and law journals. His work has emphasized the appropriate design of tax policy in a globalized setting, the links between corporate governance and taxation, and the internal capital markets of multinational firms. His research has been cited in The Economist, BusinessWeek, The New York Times, and several other publications.