Papers by Daniel A Mangieb
This study has empirically investigated the association between firm's failure and the use of der... more This study has empirically investigated the association between firm's failure and the use of derivative by analyzing the case of Enron. Enron's accounting data from 1997 to the second quarter of 2001(the year it went bankrupt) was analyzed and tested. This investigation was done by use of Altman Z-score model (bankruptcy prediction model). The study used both the 4 and 5 variable models and both models predicted failure in the case of Enron for all the years under study. The Model with 4 variables was more robust than the model of 5 variable. The finding seems to align with conclusions made by some practitioner. Increase trading in derivative may not be ideal though profitable may be lethal.
How to minimise Consolidated Tax Liability of High-tech firms, 2020
This study designs an international tax plan of a hypothetical company, Fotabetech Inc,... more This study designs an international tax plan of a hypothetical company, Fotabetech Inc, that minimize the consolidated tax liability using approaches that have been empirically tested and identified. The study recommends the following approaches as highly suited for high tech firms in shifting profit from high tax to low tax jurisdictions: use transfer pricing of intangible (Intellectual property) in tax haven and charge affiliates big fees for using them; use intercompany debt to form a tax shield; if firm is technology intensive with intangibles, it should set up tax haven subsidiaries in low tax countries and if a Multinational is heavily leveraged let it relocated its Global Headquarters to a Low tax country
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Papers by Daniel A Mangieb