Tax havens and reputational costs

IF 5.4 1区管理学 Q1 BUSINESS, FINANCE

Journal of Accounting & Economics Pub Date : 2025-04-01 DOI:10.1016/j.jacceco.2024.101761

Adrienne DePaul , Frank Murphy , Mary E. Vernon

引用次数: 0

Abstract

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.

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避税天堂和声誉成本

2017年，欧盟委员会（EC）公布了一份不合作避税天堂名单。我们研究了国家层面的旅游业和外国直接投资（FDI）是否会因为这个列表而改变。与欧共体“点名羞辱”运动的声誉成本相一致，与未列入名单的国家相比，欧盟旅游在列入名单的国家中略有减少。这种相对减少主要集中在那些认为偷税漏税不太合理的国家。相比之下，被列入名单的国家的外国直接投资普遍增加，这种好处可能抵消旅游业减少的成本。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Accounting & Economics Multiple-

CiteScore

8.70

自引率

6.80%

发文量

期刊介绍： The Journal of Accounting and Economics encourages the application of economic theory to the explanation of accounting phenomena. It provides a forum for the publication of the highest quality manuscripts which employ economic analyses of accounting problems. A wide range of methodologies and topics are encouraged and covered: * The role of accounting within the firm; * The information content and role of accounting numbers in capital markets; * The role of accounting in financial contracts and in monitoring agency relationships; * The determination of accounting standards; * Government regulation of corporate disclosure and/or the Accounting profession; * The theory of the accounting firm.