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Tax havens and disclosure aggregation

Herita Akamah, Ole-Kristian Hope () and Wayne B Thomas
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Herita Akamah: University of Nebraska – Lincoln
Ole-Kristian Hope: University of Toronto
Wayne B Thomas: University of Oklahoma

Journal of International Business Studies, 2018, vol. 49, issue 1, 49-69

Abstract: Abstract 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.

Keywords: tax havens; aggregation; disclosure transparency; tax avoidance; geographic reporting; Exhibit 21 (search for similar items in EconPapers)
Date: 2018
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