Relying on offshore financial centers: A social issue that raises governance concerns for multinationals

Tie Mei (Sarah) Li

Chapter 23 in Handbook on Corporate Governance and Corporate Social Responsibility, 2024, pp 310-323 from Edward Elgar Publishing

Abstract: This chapter explores the impact of companies operating in offshore financial centers (hereafter OFCs) from corporate governance and corporate social responsibility perspectives. As economic globalization accelerates, there is a strong trend for multinational companies to conduct financial and commercial operations through OFCs. In fact, according to the recent report by the International Monetary Fund (IMF) about OFCs, most of the world’s largest companies maintain subsidiaries in OFCs. The use of OFCs provides them with tax, regulatory and secrecy advantages.

Keywords: Business and Management; Economics and Finance; Environment; Politics and Public Policy General Academic Interest; Sustainable Development Goals (search for similar items in EconPapers)
Date: 2024
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