Tax havens and reputational costs

• 成果类型: Article
• 署名作者: DePaul, Adrienne; Murphy, Frank; Vernon, Mary E.
• 署名单位: University of Connecticut; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital
• 刊物名称: JOURNAL OF ACCOUNTING & ECONOMICS
• ISSN/ISSBN: 0165-4101; 1879-1980
• DOI: 10.1016/j.jacceco.2024.101761
• 发表日期: 2025
• 页码: 101761
• 关键词: tax havens; Reputational; Foreign direct investment; INTERNATIONAL TOURISM; country reputation; demand; determinants; image; MODEL

摘要

In 2017, the European Commission (EC) published a list of non-cooperative tax havens. We study whether country-level tourism and foreign direct investment (FDI) change as a result of this list. Consistent with a reputational cost of the EC's name and shame campaign, there is a modest reduction in EU tourism among listed countries compared to unlisted ones. This relative reduction is concentrated among tourists from countries that view cheating on taxes as less justifiable. In contrast, listed countries experience a general increase in FDI following the list, a benefit potentially offsetting the costs of reduced tourism.