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Zero Deng

Ph.D., CPA

Accounting Educator and Researcher

Data

Dataset - Exhibit 21 Country Dummies (Fixed Effects)

  • Description
    Excel dataset that contains a complete list of country indicator variables (ISO3) indicating where a firm (CIK) has material foreign subsidiaries during a year (Data Date) based on its Exhibit 21 disclosures. Best used as country fixed effects. Data coverage stops at 2023.
  • Citation
    Deng, Z., Rane, S. G. (2026) The Foreign Market Effect and Estimating Tax-Motivated Income Shifting. National Tax Journal, 77(2), 267-304.