“…Offshore jurisdictions, such as the Cayman Islands and British Virgin Islands (BVI), are an 'integral component within a framework that examines global flows and networks of investment and profits' (Coe et al, 2014, p. 764), as they are widely used by corporations, individuals and also states themselves to arrange the financial flows strategically by setting up investment vehicles in these places to deal with tax, legal and regulatory matters (Coe et al, 2014). For instance, a large number of Chinese firms, including those overseas listing firms, are incorporated in the Cayman Islands, BVI, Hong Kong and Singapore (Buckley, Sutherland, Voss, & El-Gohari, 2015;Pan, He, Sigler, Martinus, & Derudder, 2018). Owing to the importance of offshore jurisdictions in accounting for global financial activities, they are integral to the GFN framework.…”