Publications & Media
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.
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Articles
- Aug 6, 2018 Why Apple is the Future of Capitalism Aug 6, 2018
- Jun 1, 2018 Tax Reform, Round One: Understanding the Real Consequences of the New Tax Law Jun 1, 2018
- Sep 21, 2017 The Trouble with Optionality Sep 21, 2017
- Sep 20, 2017 Jeff Koons was a cotton trader — and 9 other things you didn't know about the connection between art and finance Sep 20, 2017
- Sep 20, 2017 Finance Can Be a Noble Profession (Yes, Really) Sep 20, 2017
- Sep 20, 2017 Capitalism the Apple Way vs. Capitalism the Google Way Sep 20, 2017
- Sep 20, 2017 Finance meets humanities — really Sep 20, 2017
- Sep 20, 2017 Why We Are All Insurance Companies Sep 20, 2017
- Sep 26, 2016 There’s one piece of tax reform that would have a real impact with little resistance Sep 26, 2016
- Sep 15, 2016 Harvard study singles out a game-changing economic opportunity Sep 15, 2016
- Sep 1, 2016 Problems Unsolved & A Nation Divided Sep 1, 2016
- May 6, 2015 Interest Deductions in a Multijurisdictional World May 6, 2015
- Apr 14, 2015 How crowdsourcing could help simplify America’s tax code Apr 14, 2015
- Jun 1, 2014 Financial Policy at Apple, 2013 Jun 1, 2014
- Sep 1, 2013 The Case of the Unidentified Industries - 2013 Sep 1, 2013
- Jul 1, 2012 A Better Way to Tax U.S. Businesses Jul 1, 2012
- Mar 9, 2012 Corporate Inversions: Tax Dodge, or Symptom of the Tax Code? Mar 9, 2012
- Mar 1, 2012 The Incentive Bubble Mar 1, 2012
- Apr 1, 2011 Institutional Tax Clienteles and Payout Policy Apr 1, 2011
- Dec 29, 2010 The Mistaken Attack on Outsourcing Dec 29, 2010
- Dec 10, 2010 Tax U.S. Companies Into Spending Dec 10, 2010
- Dec 1, 2010 Do Strong Fences Make Strong Neighbors? Dec 1, 2010
- Sep 1, 2009 The Decentering of the Global Firm Sep 1, 2009
- Aug 1, 2009 Corporate Tax Avoidance and Firm Value Aug 1, 2009
- Jun 1, 2009 Dividend Taxes and International Portfolio Choice Jun 1, 2009
- Apr 1, 2009 Securing Jobs or the New Protectionism? Taxing the Overseas Activities of Multinational Firms Apr 1, 2009
- Jan 19, 2009 Earnings Management, Corporate Tax Shelters, and Book-Tax Alignment Jan 19, 2009
- Jan 1, 2009 The Fiscal Impact of High-Skilled Emigration: Indian Emigration to the U.S. Jan 1, 2009
- Nov 16, 2008 Taxes, Institutions and Foreign Diversification Opportunities Nov 16, 2008
- Sep 8, 2008 Taxing the Bandit Kings Sep 8, 2008
- Jul 1, 2008 The Finance Function in a Global Corporation Jul 1, 2008
- Jun 23, 2008 Investable Tax Credits: The Case of the Low Income Housing Tax Credit Jun 23, 2008
- Jun 1, 2008 Capital Structure with Risky Foreign Investment Jun 1, 2008
- May 29, 2008 America the Difficult May 29, 2008
- May 1, 2008 Domestic Effects of the Foreign Activities of U.S. Multinationals May 1, 2008
- Aug 1, 2007 Taxation and Corporate Governance: An Economic Approach Aug 1, 2007
- Jun 7, 2007 The Bad Dream of Options Expensing Lingers Jun 7, 2007
- Jun 1, 2007 Theft and Taxes Jun 1, 2007
- Mar 1, 2007 Dividend Policy Inside the Multinational Firm Mar 1, 2007
- Jan 1, 2007 Multinational Firms, FDI Flows and Imperfect Capital Markets Jan 1, 2007
- Oct 26, 2006 Fixing Executive Options: The Veil of Ignorance Oct 26, 2006
- Sep 1, 2006 Strange Bedfellows Sep 1, 2006
- Jun 1, 2006 Financial Constraints and Growth: Multinational and Local Firm Responses to Currency Depreciations Jun 1, 2006
- Apr 1, 2006 Czech Mate: Expropriation and Investor Protection in a Converging World Apr 1, 2006
- Mar 1, 2006 The Demand for Tax Haven Operations Mar 1, 2006
- Feb 1, 2006 Do Tax Havens Divert Economic Activity? Feb 1, 2006
- Feb 1, 2006 Earnings Manipulation, Pension Assumptions and Managerial Investment Decisions Feb 1, 2006
- Jan 1, 2006 Corporate Tax Avoidance and High-Powered Incentives Jan 1, 2006
- Dec 1, 2005 Taxation and the Evolution of Aggregate Corporate Ownership Concentration Dec 1, 2005
- Jul 1, 2005 Capital Controls, Liberalizations, and Foreign Direct Investment Jul 1, 2005
- Jul 1, 2005 The Degradation of Reported Corporate Profits Jul 1, 2005
- May 1, 2005 Foreign Direct Investment and the Domestic Capital Stock May 1, 2005
- Jan 1, 2005 Investment, Overhang, and Tax Policy Jan 1, 2005
- Dec 1, 2004 Foreign Direct Investment in a World of Multiple Taxes Dec 1, 2004
- Dec 1, 2004 Old Rules and New Realities: Corporate Tax Policy in a Global Setting Dec 1, 2004
- Sep 1, 2004 The Comovement of Returns and Investment Within the Multinational Firm Sep 1, 2004
- Sep 1, 2004 Sharing the Spoils: Taxing International Flows of Human Capital Sep 1, 2004
- Aug 1, 2004 The Costs of Shared Ownership: Evidence From International Joint Ventures Aug 1, 2004
- Dec 1, 2003 Market Reactions to Export Subsidies Dec 1, 2003
- Nov 23, 2003 The Character and Determinants of Corporate Capital Gains Nov 23, 2003
- Sep 1, 2003 Evaluating International Tax Reform Sep 1, 2003
- May 5, 2003 Reading Off the Same Page May 5, 2003
- May 1, 2003 A Multinational Perspective on Capital Structure Choice and Internal Capital Markets May 1, 2003
- Jan 11, 2003 Remote Control Tax Jan 11, 2003
- Oct 1, 2002 The Divergence Between Book Income and Tax Income Oct 1, 2002
- Sep 1, 2002 Expectations and Expatriations: Tracing the Causes and Consequences of Corporate Inversions Sep 1, 2002
- Sep 1, 2002 Chains of Ownership, Regional Tax Competition and Foreign Direct Investment Sep 1, 2002
- Dec 1, 2001 Repatriation Taxes and Dividend Distortions Dec 1, 2001
- Jan 1, 2001 Exchange Rates and Tax-Based Export Promotion Jan 1, 2001
- Nov 1, 2000 The Uneasy Marriage of Export Subsidies and the Income Tax Nov 1, 2000
- Mar 1, 1999 Basket Cases: Tax Incentives and International Joint Venture Participation by American Multinational Firms Mar 1, 1999
- Jan 1, 1999 Excess Capital Flows and the Burden of Inflation in Open Economics Jan 1, 1999
- Jan 1, 1999 Are We Racing to the Bottom? Evidence on the Dynamics of International Tax Competition Jan 1, 1999
- Aug 23, 1996 The End of Everything Aug 23, 1996
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Books
- Sep 25, 2018 How Finance Works: The HBR Guide to Thinking Smart About the Numbers Sep 25, 2018
- May 23, 2017 Wisdom of Finance: Discovering Humanity in the World of Risk and Return May 23, 2017
- Feb 3, 2006 International Finance: A Casebook Feb 3, 2006
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Discussions
- Jan 1, 2008 Discussion of “Transforming India” Jan 1, 2008
- Jan 1, 2007 Discussion of “Productivity and Taxes as Drivers of FDI” Jan 1, 2007
- Jan 1, 2007 Discussion of "The Political Economy of Indian Fiscal Federalism" Jan 1, 2007
- Jan 1, 2006 Discussion of "Does Economic Growth Reduce Fertility? Rural India 1971-1999" Jan 1, 2006
- Jun 1, 2005 Reply to Grubert Jun 1, 2005
- Jan 1, 2004 Discussion of "Saving and Cohabitation: The Economic Consequences of Living with One’s Parents in Italy and the Netherlands" Jan 1, 2004
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Government Testimony
- Mar 10, 2016 Testimony: Complexity in the Tax Code Mar 10, 2016
- Jul 22, 2014 Testimony: International Corporate Taxation Jul 22, 2014
- Jul 13, 2011 Testimony: Tax Reform and the Treatment of Debt and Equity Jul 13, 2011
- Jun 5, 2007 Testimony: Aligning the Accounting and Tax Treatment of Incentive Compensation Jun 5, 2007
- May 9, 2006 Testimony: Reform Alternatives for the Corporate Tax May 9, 2006
- Mar 31, 2005 Taxation and Global Competitiveness Mar 31, 2005
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HBS Course Material
- Oct 3, 2013 Innocents Abroad: Currencies and Stock Returns Oct 3, 2013
- Feb 28, 2007 Hedging Currency Risk at AIFS Feb 28, 2007
- Feb 28, 2007 Foreign Exchange Markets and Transactions Feb 28, 2007
- Nov 21, 2006 Tax-Motivated Film Financing at Rexford Studios Nov 21, 2006
- Oct 23, 2006 Globalizing the Cost of Capital and Capital Budgeting at AES Oct 23, 2006
- Jul 1, 2006 Understanding Economic Value Added Jul 1, 2006
- Apr 26, 2006 Nestlé and Alcon: The Value of A Listing Apr 26, 2006
- Apr 1, 2006 Cross-Border Financial Opportunities: A Module Note Apr 1, 2006
- Mar 31, 2006 Dow Chemical’s Bid for the Privatization of PBB in Argentina Mar 31, 2006
- Mar 1, 2006 International Regulatory Regimes: A Module Note Mar 1, 2006
- Mar 1, 2006 Finance in Weak Institutional Environments: A Module Note Mar 1, 2006
- Mar 1, 2006 Valuing Cross-Border Investments: A Module Note Mar 1, 2006
- Mar 1, 2006 Exchange Rates and Firms: A Module Note Mar 1, 2006
- Mar 1, 2006 Exchange Rates and Global Markets: A Module Note Mar 1, 2006
- Mar 1, 2006 International Finance: A Course Overview Note Mar 1, 2006
- Jan 9, 2006 Foreign Exchange Hedging Strategies at General Motors: Transactional and Translational Exposures Jan 9, 2006
- Aug 1, 2005 Note on International Tax Regimes Aug 1, 2005
- Mar 1, 2005 Financing Decisions within the Firm: A Module Note Mar 1, 2005
- Jan 25, 2005 Czech Mate: CME and Vladimir Zelezny (A, B1, B2, B3, C, D, &E) Jan 25, 2005
- Dec 1, 2004 Subscriber Models Dec 1, 2004
- Oct 5, 2004 The Continuing Transformation of Asahi Glass: Implementing EVA Oct 5, 2004
- Mar 22, 2004 Redesigning Sovereign Debt Restructuring Mechanisms Mar 22, 2004
- Mar 10, 2004 Drilling South: Petrobras Evaluates Pecom Mar 10, 2004
- Jan 6, 2004 Exchange Rate Policy at the Monetary Authority of Singapore Jan 6, 2004
- Jan 1, 2004 Cross-Border Listings and Depositary Receipts Jan 1, 2004
- Dec 23, 2003 Antitrust Regulations in a Global Setting: The EU Investigation of the GE/Honeywell Merger Dec 23, 2003
- Oct 29, 2003 Financing Biodiversity Conservation by the Global Conservation Fund Oct 29, 2003
- Sep 26, 2003 Valuing a Cross-Border LBO: Bidding on the Yell Group Sep 26, 2003
- Sep 22, 2003 Growing Up In China: The Financing of BabyCare Sep 22, 2003
- Sep 22, 2003 The Refinancing of Shanghai General Motors (A&B) Sep 22, 2003
- Nov 1, 2002 The Strategy and Sources of Motion Picture Finance Nov 1, 2002
- Oct 17, 2002 Corporate Inversions: Stanley Works and the Lure of Tax Havens Oct 17, 2002
- Nov 7, 2001 Provident Life and Accident Insurance: The Acquisition of Paul Revere Nov 7, 2001
- Jan 8, 2001 Valuing Project Achieve Jan 8, 2001
- Aug 23, 2000 Laura Martin: Real Options and the Cable Industry Aug 23, 2000
- Apr 27, 2000 The Financing of Project Achieve (A&B) Apr 27, 2000
- Jul 6, 1998 Enron Development Corp.: The Dabhol Power Project in Maharashtra, India Jul 6, 1998
- Oct 17, 1995 Coca-Cola Harmless Warrants Oct 17, 1995
- Sep 7, 1995 COUGARs Sep 7, 1995
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News
- Apr 6, 2016 Pfizer and Allergan call off their $160 billion merger after U.S. move to block inversions Apr 6, 2016
- Mar 7, 2016 The Trump-Obama Corporate Tax Reform Fail Mar 7, 2016
- Nov 24, 2015 To prevent corporate ‘inversions,’ the American tax code needs to be fixed Nov 24, 2015
- May 12, 2015 Interview, Tax Foundation: Making Sense of Profit Shifting May 12, 2015
- Jul 22, 2014 U.S. Senate Finance Committee Testimony: Corporate Tax Reform Jul 22, 2014
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Podcasts
- Sep 24, 2018 HBS After Hours Sep 24, 2018
- Sep 20, 2017 Harvard’s Mihir Desai on New Book, ’The Wisdom of Finance’ Sep 20, 2017
- Sep 20, 2017 Latest College Graduates Enter A More Optimistic Economy Sep 20, 2017
- Sep 20, 2017 Why Finance Needs More Humanity, and Why Humanity Needs Finance Sep 20, 2017
- Sep 20, 2017 What corporate bankruptcy can teach us about morality Sep 20, 2017
- Sep 20, 2017 Trend Following Radio: Mihir Desai Interview with Michael Covel Sep 20, 2017
- Sep 1, 2016 Behind Apple's Tax Situation, an Unprecedented Financial Policy Sep 1, 2016
- Aug 27, 2014 Burger King Becomes the Latest US Company Using Tax Inversion Aug 27, 2014
- Aug 1, 2014 How to Stop Corporate Inversions Aug 1, 2014
- Mar 9, 2012 Corporate Inversions: Tax Dodge, or Symptom of the Tax Code? Mar 9, 2012
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Research Overviews
- Jul 1, 2008 Capital Flows, Taxes and Institutional Variation Jul 1, 2008
- Mar 1, 2007 The Internal Markets of Multinational Firms Mar 1, 2007
- Mar 6, 2006 Taxing Corporate Capital Gains Mar 6, 2006
- Feb 1, 2006 Taxation and Multinational Activity: New Evidence, New Interpretations Feb 1, 2006
- Jan 1, 2005 Corporate Social Responsibility and Taxation: The Missing Link Jan 1, 2005
- Oct 1, 2004 Czech Mate Oct 1, 2004
- Mar 1, 2004 New Foundations for Taxing Multinational Corporations Mar 1, 2004
- Mar 1, 2004 Venture Out Alone Mar 1, 2004
- Reviews
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Videos
- Sep 20, 2017 How to succeed in finance...by reading Jane Austen Sep 20, 2017
- Sep 20, 2017 Why Finance Needs More Humanity, HBR Facebook Live Sep 20, 2017
- Sep 20, 2017 What Jane Austen can teach us about risk management Sep 20, 2017
- Sep 20, 2017 Harvard Business School professor explains the most important problem we have in finance today and how to fix it Sep 20, 2017
- Sep 20, 2017 WATCH: A call for ending Wall Street’s divorce from the humanities Sep 20, 2017
- Sep 20, 2017 Good Investors Make Money. Great Investors Create Value. Sep 20, 2017
- Sep 20, 2017 How to Restore Humanity in Finance Sep 20, 2017
- Sep 20, 2017 We need to 'humanize' finance: Harvard professor Sep 20, 2017
- Sep 19, 2017 How one author is demystifying finance Sep 19, 2017
- Apr 14, 2016 Teaching Delivers Immediate Returns Apr 14, 2016
- Mar 10, 2016 Testimony: Complexity in the Tax Code Mar 10, 2016
- Jan 1, 2016 Harvard Business Publishing: Why Study Finance? Jan 1, 2016
- Jan 27, 2015 Incentives to Invert and the Market for Foreign Takeovers Jan 27, 2015
- Dec 31, 2014 Business Insights: Look Beyond Obvious Risks Dec 31, 2014
- Dec 31, 2014 Business Insights: Tackle Finance with Curiosity Dec 31, 2014
- Dec 31, 2014 Business Insights: The (Im)precision of Finance Dec 31, 2014
- Aug 17, 2014 Taxing Innovation - Inversion or Evasion? Aug 17, 2014
- Jul 22, 2014 Testimony: International Corporate Taxation Jul 22, 2014
- Jul 22, 2014 U.S. Senate Finance Committee Testimony: Corporate Tax Reform Jul 22, 2014
- May 28, 2013 One Harvard - Innovation and Entrepreneurship May 28, 2013
- Sep 27, 2012 Tax Policies That Might Work Sep 27, 2012
- Sep 22, 2012 India in the Global Economy: The Next Fifteen Years Sep 22, 2012
- Mar 29, 2012 Keynote Speech at the Financial Times - Investing in a Sustainable Future Conference Mar 29, 2012
- Feb 7, 2012 Artist as Entrepreneur: A Conversation with Wynton Marsalis Feb 7, 2012
- Dec 8, 2011 The 2011 Mortimer Caplin Conference on the World Economy Dec 8, 2011
- Jul 13, 2011 Testimony: Tax Reform and the Treatment of Debt and Equity Jul 13, 2011
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Wisdom of Finance Press
- Jul 23, 2018 Can Economists and Humanists Ever Be Friends? Jul 23, 2018
- Sep 20, 2017 How to succeed in finance...by reading Jane Austen Sep 20, 2017
- Sep 20, 2017 Finding heart in finance, sources of inspiration Sep 20, 2017
- Sep 20, 2017 Harvard’s Mihir Desai on New Book, ’The Wisdom of Finance’ Sep 20, 2017
- Sep 20, 2017 Why Wall Street Went Astray: Eight Ways To Humanize Finance Sep 20, 2017
- Sep 20, 2017 Summer books of 2017: Business Sep 20, 2017
- Sep 20, 2017 Why Finance Needs More Humanity, HBR Facebook Live Sep 20, 2017
- Sep 20, 2017 Why Finance Needs More Humanity, and Why Humanity Needs Finance Sep 20, 2017
- Sep 20, 2017 A keen appreciation of luck in life, love and finance Sep 20, 2017
- Sep 20, 2017 EDITOR'S CHOICE: The Wisdom of Finance: Discovering Humanity in the World of Risk and Return Sep 20, 2017
- Sep 20, 2017 Good Investors Make Money. Great Investors Create Value Sep 20, 2017
- Sep 20, 2017 When Finance Is a Character in a Novel Sep 20, 2017
- Sep 20, 2017 Jeff Koons was a cotton trader — and 9 other things you didn't know about the connection between art and finance Sep 20, 2017
- Sep 20, 2017 What Jane Austen can teach us about risk management Sep 20, 2017
- Sep 20, 2017 Harvard Business School professor explains the most important problem we have in finance today and how to fix it Sep 20, 2017
- Sep 20, 2017 WATCH: A call for ending Wall Street’s divorce from the humanities Sep 20, 2017
- Sep 20, 2017 What’s Worth Reading This Summer? Sep 20, 2017
- Sep 20, 2017 Good Investors Make Money. Great Investors Create Value. Sep 20, 2017
- Sep 20, 2017 Humanizing Finance Sep 20, 2017
- Sep 19, 2017 How one author is demystifying finance Sep 19, 2017
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Working Papers
- Jun 29, 2012 Trade Credit and Taxes Jun 29, 2012
- Feb 1, 2011 Investor Taxation in Open Economies Feb 1, 2011
- Jun 1, 2008 Investable Tax Credits: The Case of the Low Income Housing Tax Credit Jun 1, 2008
- Dec 1, 2007 Labor and Capital Shares of the Corporate Tax Burden: International Evidence Dec 1, 2007
- Sep 1, 2006 Constraining Managers without Owners: Governance of the Not-for-Profit Enterprise Sep 1, 2006
- Mar 1, 2005 Institutions, Capital Constraints and Entrepreneurial Dynamics: Evidence from Europe Mar 1, 2005
- Nov 1, 2002 ValueAdded Taxes and International Trade: The Evidence Nov 1, 2002