The incentive to locate a multinational firm: The effect of tax reforms in the United Kingdom

The advent of the single European market has focused attention on the structure of international tax incentives for the location of multinational business. Multinationals that channel foreign income through the United Kingdom have been likely to suffer double taxation in the form of surplus advance corporation tax when they subsequently distribute the income to a foreign parent. This paper shows that the 1993 U.K. tax reforms create a significant reduction in the tax cost of locating in the United Kingdom, relative to traditionally favorable tax regimes such as the Netherlands.     

Relationships between leader behaviors and audit team performance

This study considers the nature and importance of leadership in the audit process. The relationships between audit team performance and leader behaviors, which are practised by in-charge auditors to supervise staff assistants, are examined in a field experiment. The results identify a number of leader behaviors which relate, either directly or through some intermediary factors, to audit team performance. For example, high performing audit teams tended to be supervised by in-charge auditors who allowed staff innovation, were considerate to the staff's personal needs, administered frequent positive reinforcement, relied heavily on time budgets, assigned a small number of tasks per staff member and administered negative reinforcement infrequently. These and other results appear to have implications for practicing auditors as well as future research in the area.     

Book Reviews

Stephan Haggard (2000), The Political Economy of the Asian Financial Crisis, Institute for International Economics, Washington DC, pp. xvii + 272.

Colin Barlow (ed.) (1999), Institutions and Economic Change in Southeast Asia: The Context of Development from the 1960s to the 1990s, Edward Elgar, Cheltenham, pp. xi + 204.

Asian Policy Forum, Asian Development Bank Institute (Forum Secretariat) (2000), Policy Recommendations for Preventing Another Capital Account Crisis, Asian Development Bank Institute, Tokyo, pp. ii + 16.

Masaru Yoshitomi and Sayuri Shirai (2000), Technical Background Paper for Policy Recommendations for Preventing Another Capital Account Crisis, Asian Development Bank Institute, Tokyo, pp. ii + 85.     

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