The role of tax havens and offshore financial centers in Asia-Pacific networks: evidence from firm-subsidiary connections
Kirsten Martinus (),
Thomas Sigler (),
Iacopo Iacopini () and
Ben Derudder ()
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Kirsten Martinus: The University of Western Australia
Thomas Sigler: The University of Queensland
Iacopo Iacopini: Queen Mary University of London
Ben Derudder: Ghent University
Asian Business & Management, 2019, vol. 18, issue 5, 389-411
Abstract This paper adds a network dimension to locational theories on multinational corporate strategy to explain how tax havens and offshore financial centers (THOFC) are integrated into the structures of firms listed on five stock exchanges of the Asia-Pacific region. Applying network analysis to firm-subsidiary connections of these listed firms, it highlights differences in the connectivity structures as well as the role of THOFC in exchange subnetworks. It finds considerable variation in the complexity of corporate structures by stock exchange which can be explained by national context and multinational location strategies, and that the prevalence of THOFC within corporate structures cannot be underestimated.
Keywords: Tax havens; Offshore financial centers; Social network analysis; Economic geography; Financial markets (search for similar items in EconPapers)
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