Professor of Finance and Law
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.
(w/ D. Dharmapala) Review of Economics and Statistics, 93:1 (February 2011), 266-284.
This paper investigates how dividend taxes influence portfolio choices, using the response to the distinctive treatment of a subset of foreign dividends in the Jobs and Growth Tax Relief Reconciliation Act (JGTRRA) of 2003.
Read More(w/ D. Dharmapala) Journal of Public Economics, 93:5-6 (June 2009), 703-714.
Investors can access foreign diversification opportunities through either foreign portfolio investment (FPI) or foreign direct investment (FDI).
Read More(w/ D. Dharmapala) 118 Yale Law Journal Pocket Part, 98 (November 2008).
The rise of significant inbound capital flows originating from sovereign wealth funds (SWFs) has occasioned a debate over the appropriate regulatory and tax treatment of these funds.
Read Moreby A. Panagariya in India: An Emerging Giant
Arvind Panagariya has a written an exhaustive review of the state of the Indian economy and its future prospects.
Read Moreby A. Razin and E. Sadkain Brookings Trade Forum, 2007.
Their theoretical work emphasizes how set-up costs at home and in the host country can drive a wedge between marginal and total profit conditions. This insight combines with a description of FDI decision-making that separates the decision to invest and how much to invest.
Read More(w/ C. F. Foley and K. J. Forbes) Review of Financial Studies 21:6 (November 2008), 2857-2888.
This paper examines how financial constraints and product market exposures determine the response of multinational and local firms to sharp depreciations.
Read More(w/ A. Moel) Review of Finance 12:1 (2008), 221-251.
This paper examines the expropriation of a foreign investor by a local partner and the subsequent resolution of that case through international arbitration in favor of the investor.
Read More(w/ C. F. Foley and J. R. Hines Jr.) Journal of Public Economics 90, no. 3 (March 2006), 513-531.
What types of firms establish tax haven operations, and what purposes do these operations serve?
Read MoreEconomic Letters (w/ C. F. Foley and J. R. Hines Jr.) 90, no. 2 (February 2006), 219-224.
When multinational firms expand their operations in tax havens, do they divert activity from non-havens?
Read More(w/ C. F. Foley and J. R. Hines Jr.) American Economic Review 95, no. 2 (May 2005), 33-38.
This paper evaluates evidence of the impact of outbound foreign direct investment (FDI) on domestic investment rates.
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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.
Mizuho Financial Group Professor of Finance, Harvard Business School, Professor of Law, Harvard Law School