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.
Tax Notes (April 2009).
The last two decades have witnessed two significant economic developments that are often linked in the popular imagination: the rapid increase of the foreign activities of American multinational firms and rising levels of economic insecurity, particularly among workers in certain sectors.
Read More(w/ D. Dharmapala) National Tax Journal, 62 (March 2009), 169-186.
This paper reviews recent evidence analyzing the link between earnings management and corporate tax avoidance and considers the implications for how policymakers should evaluate the financial reporting environment facing firms.
Read More(w/ D. Kapur, J. McHale, and K. Rogers) Journal of Development Economics, 88:1 (January 2009), 32-44.
This paper develops methodologies for inferring these consequences and applies them to the recent sizable emigration of high-skilled workers from India to the U.S.
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 MoreHarvard Business Review 86, nos. 7/8 (July – August 2008).
Historically, the finance functions in large U.S. and European firms have focused on cost control, operating budgets, and internal auditing. But as corporations go global, a world of finance opens up within them, presenting new opportunities and challenges for CFOs.
Read MoreNBER Reporter, no. 3
Tariff reductions, falling transport costs, and reduced barriers to international capital flows have created extensive opportunities for multinational firms and investors in increasingly integrated global markets.
Read More(w/ D. Dharmapala and M. Singhal) in National Tax Journal
The Low Income Housing Tax Credit (LIHTC) represents a novel tax expenditure program that employs "investable" tax credits to spur production of low-income rental housing.
Read More(w/ C. F. Foley and J. R. Hines Jr.) Journal of Financial Economics, 88:3 (June 2008), 534-553.
Political risks increase the volatility of multinational firm operating returns, prompting firms to adjust their capital structures.
Read More(w/ D. Dharmapala, M. Singhal)
This paper outlines a conceptual framework for exploring the conditions under which investable tax credits may be the most effective mechanism to deliver a production subsidy and discusses the desirability of employing investable tax credits in other policy domains.
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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