Tax havens and disclosure aggregation

• 成果类型: Article
• 署名作者: Akamah, Herita; Hope, Ole-Kristian; Thomas, Wayne B.
• 署名单位: University of Nebraska System; University of Nebraska Lincoln; University of Toronto; BI Norwegian Business School; University of Oklahoma System; University of Oklahoma - Norman
• 刊物名称: JOURNAL OF INTERNATIONAL BUSINESS STUDIES
• ISSN/ISSBN: 0047-2506
• DOI: 10.1057/s41267-017-0084-x
• 发表日期: 2018
• 页码: 49-69
• 关键词: tax havens; aggregation; disclosure transparency; Tax avoidance; geographic reporting; Exhibit 21

摘要

Multinational firms have been accused by politicians, regulators, and citizen groups of shifting profits to low-tax geographic areas. We present evidence that multinational firms with tax-haven operations tend to aggregate their geographic disclosures to a greater extent. The results are consistent with managers attempting to avoid criticism by reducing the transparency of their tax-avoidance activities. We find these results to be stronger for larger firms with higher political costs and for firms in natural-resources industries, in retail industries, or with low competition. The evidence is relevant to policymakers and others interested in multinational firms' financial reporting and tax activities.