Corpus ID: 154647605

Reinvestment Behavior of Large Repatriating Firms

  title={Reinvestment Behavior of Large Repatriating Firms},
  author={Thomas J. Brennan},
  • Thomas J. Brennan
  • Published 2012
  • Business, Economics
  • I study changes in spending for corporations that repatriated cash pursuant to the tax holiday of the 2004 American Jobs Creation Act (AJCA). I analyze the entire multi-year period during which reinvestment of repatriations was permitted using a sample of public firms that includes over 50% of all repatriating firms and more than 95% of all amounts repatriated. Like prior researchers, I find that a portion of repatriated cash was used to return value to shareholders, but in contrast to common… CONTINUE READING


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