International tax research beyond APB 23 Kevin Markle, University of Iowa ATA Doctoral Consortium, Washington, D.C. February 25, 2015

Main points The international tax research landscape ATA Doctoral Consortium 2015 The international tax research landscape Our competitive advantage With great power comes… Markle – International beyond APB 23

Research in international tax ATA Doctoral Consortium 2015 Economists Lawyers Accountants Markle – International beyond APB 23 If you are the smartest person in the room, you are in the wrong room.

Our competitive advantage ATA Doctoral Consortium 2015 We understand financial accounting Hanlon, Lester, and Verdi – The effect of repatriation tax costs on US multinational investment Edwards, Kravet, and Wilson – Trapped cash and the profitability of foreign cash acquisitions De Simone – Does a common set of accounting standards affect tax-motivated income shifting for multinational firms? Blouin, Huizinga, Laeven, and Nicodeme – Thin capitalization rules and multinational firm capital structure Dyreng and Markle – The effect of financial constraints on the tax-motivated income shifting of U.S. multinationals Markle – International beyond APB 23

With great power comes… relevance With great power comes… ATA Doctoral Consortium 2015 Markle – International beyond APB 23

ATA Doctoral Consortium 2015 Markle – International beyond APB 23

ATA Doctoral Consortium 2015 Markle – International beyond APB 23

ATA Doctoral Consortium 2015 Markle – International beyond APB 23

ATA Doctoral Consortium 2015 Markle – International beyond APB 23

ATA Doctoral Consortium 2015 Markle – International beyond APB 23

ATA Doctoral Consortium 2015 Markle – International beyond APB 23

We can contribute OECD BEPS Project Regime changes and tax reform ATA Doctoral Consortium 2015 OECD BEPS Project Huge challenge is “measuring BEPS” Regime changes and tax reform We understand how existing data can be used in a quasi-experimental setting Markle – International beyond APB 23