Tax Havens and the Production of Offshore FDI: An Empirical Analysis

Haberly, Daniel; Wójcik, Dariusz

doi:10.2139/ssrn.2252431

Cited by 60 publications

(103 citation statements)

References 46 publications

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“…Because we use an accounting-based measure of performance (i.e., ROE), it is important to address this issue. Based on 11 lists of tax havens compiled by Chavagneux et al (2010), Haberly and Wójcik (2015) have produced a list of countries that have 75, 50 and 25 % levels of agreement on tax haven definition. We use the list of countries with a 75 % level of agreement, i.e., countries that appear in at least 75 % of the lists (i.e., 9 out of the 11 lists), and then repeat our regressions after excluding these countries from our sample.…”

Section: Resultsmentioning

confidence: 99%

Institutional Distance and Foreign Subsidiary Performance in Emerging Markets: Moderating Effects of Ownership Strategy and Host-Country Experience

Shirodkar

Konara

2016

Manag Int Rev

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Institutional distance has been known to be an important driver of Multinational Enterprises' strategies and performance in host countries. Based on a large panel dataset of 10,562 firms operating in 17 emerging markets and spanning 80 home countries, we re-examine the relationship described by Gaur and Lu (J Manage 33 (1): 2007) between regulatory institutional distance and subsidiary performance. We extend this research by (1) examining this relationship in the context of emerging markets, (2) examining the moderating effects of ownership strategy and host-country experience within the context of emerging markets and (3) accounting for a greater variety of institutions by including a large number of home and host countries. We find that institutional distance negatively affects subsidiary performance in emerging markets. Our findings also show that the negative effects of institutional distance on subsidiary performance are lesser for subsidiaries with partial ownership (than for subsidiaries with full ownership) and for subsidiaries with greater host-country experience. We discuss our findings with respect to Gaur and Lu's model, which explores the relationships between these variables in a general context.

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Section: Resultsmentioning

confidence: 99%

Institutional Distance and Foreign Subsidiary Performance in Emerging Markets: Moderating Effects of Ownership Strategy and Host-Country Experience

Shirodkar

Konara

2016

Manag Int Rev

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“…This approach has some critics (Martı´nez-Zarzoso, 2013) but is generally approved of (e.g. Arvis and Shepherd, 2013;Arezki et al, 2013;Haberly and Wojcik, 2014). We have followed the literature and used a PPML estimator.…”

Section: Methodsmentioning

confidence: 99%

Determinants of foreign land acquisitions in low- and middle-income countries

Lay

Nolte

2017

Journal of Economic Geography

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This article analyses the determinants of growing demand for agricultural land in developing countries. We propose some determinants that are specific to foreign acquisitions of agricultural land as a subset of agricultural foreign direct investment (FDI) and empirically examine the corresponding locational choice. Using a gravity model and a data set on land acquisitions worldwide, we find that the determinants partly overlap with those for other forms of FDI but are specific in certain regards. Rich investors target (poorer) economies with abundant land and water resources, and the effects of the quality of institutions are ambiguous.

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“…One of the key factors is economic geography and hence path-dependency. Vlcek (2008) and Haberly and Wójcik (2015) discuss the symbiotic relationship between offshore FDI and its link between current and former colonies. The UK has clear links with many of these offshore jurisdictions (Palan, Murphy, and Chavagneux, 2010) and in many ways the City of London has played a singular role in receiving funds from the UK's Overseas Territories and Crown Dependencies, and often in lobbying against stronger regulation.…”

Section: Csasmentioning

confidence: 99%

Tax Haven Networks and the Role of the Big 4 Accountancy Firms

Jones

Temouri

Cobham

2016

AMPROC

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A B S T R A C TThis paper investigates the association between the Big 4 accountancy firms and the extent to which multinational enterprises build, manage and maintain their networks of tax haven subsidiaries. We extend internalisation theory and derive a number of hypotheses that are tested using count models on firm-level data. Our key findings demonstrate that there is a strong correlation and causal link between the size of an MNE's tax haven network and their use of the Big 4. We therefore argue that public policy related to the role of auditors can have a significant impact on the tax avoidance behaviour of MNEs.

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Tax Havens and the Production of Offshore FDI: An Empirical Analysis

Cited by 60 publications

References 46 publications

Institutional Distance and Foreign Subsidiary Performance in Emerging Markets: Moderating Effects of Ownership Strategy and Host-Country Experience

Institutional Distance and Foreign Subsidiary Performance in Emerging Markets: Moderating Effects of Ownership Strategy and Host-Country Experience

Determinants of foreign land acquisitions in low- and middle-income countries

Tax Haven Networks and the Role of the Big 4 Accountancy Firms

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