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Title: Essays on corporate tax modelling
Author: Ahmed, S.
Awarding Body: University of Cambridge
Current Institution: University of Cambridge
Date of Award: 2005
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The objective of this thesis is to add to our understanding of corporate taxes and tax systems. The thesis is presented in the form of four independent papers which are thematically linked. The first paper entitled “Corporate tax models: a review” evaluates alternative corporate tax modelling strategies and provides a review of the official corporate tax models in major OECD countries, with some discussion on the approaches taken by academic research institutions for the analysis of tax policy regimes. It highlights the potential role of the models in tax policy analysis. The focus is on the strengths and limitations of each type of model and the purposes they serve. The second paper entitled “Multi-country microsimulation modelling of corporate taxes: problems and prospects” explores the extent to which a common microsimulation framework could be applied to analyse corporate tax policies across EU. Focusing on two national corporate tax modelling strategies of the UK and Italy (which are sufficiently different for a two-country comparison), it explains differences in the working of corporate tax systems in different countries and presents a detailed analysis of issues that arise in developing a multi-country model. The barriers to the creation of national databases and microsimulation models for cross-country comparisons are identified. The aim of the third paper entitled “Modelling corporate tax liabilities using company accounts: a new framework” is to empirically model corporate tax liabilities of UK companies with a view to ultimately explain revenues from such taxes. The model explains the impact on firms’ tax liabilities of factors such as organisational structures, financial and dividend policies and financial innovation. Analysis of firm-level panel data on 15,384 companies in three sectors suggests the strategic use of such devices by the firms to reduce their tax liabilities. The fourth paper entitled “Forecasting profitability, earnings and corporate taxes: evidence from UK companies” follows the Fama-MacBeth methodology to examine the mean reversion hypothesis for the UK company profitability. Data from 12,894 firms containing both listed and non-listed companies is analysed to provide estimates of the rates and patterns of mean reversion of profitability for three industry sectors separately. We expand the analysis further and examine the predictability of earnings and corporate taxes.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available