Theory and recent empirical literature suggest that social and professional connections may influence corporate policy. However, inference may be biased by the possibility that firms who share peers also share unobserved characteristics that are correlated with observed policy. Using a novel...

We investigate how companies with large holdings of cash abroad have used those funds following the Tax Cuts and Jobs Act, which eliminated prior tax disincentives on the repatriation of foreign earnings

This article analyzes the role of Caribbean tax havens in China's FDI and the evolutionary development since the mid 1990s. The round-trip scheme adopted by Chinese investors is given particular attention. It then discusses the increasingly strict tax measures adopted by China to counter the...

Over the past 70 years, many smaller jurisdictions have evolved intro international financial centres (IFCs). Although different in their historic origins and in the financial products and services they offer, IFCs share a common development path. Understanding that evolution can shed light on...

The research revolves around the topic of offshore destinations and role of tax in the decision where to locate TNCs’ investments or relocate employees. This paper exploits rich country-by-country reporting (CbCR) data that banking institutions operating in the EU with annual turnover over 750...

Little is known about how banks shift profits to low-tax countries. Because of their specific business model, banks use profit shifting channels different from those of other firms. We propose a novel and bank-specific method of profit shifting: the strategic relocation of proprietary trading to...