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

In: Handbook on Corporate Governance and Corporate Social Responsibility

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  • Tie Mei (Sarah) Li

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.

Suggested Citation

  • Tie Mei (Sarah) Li, 2024. "Relying on offshore financial centers: A social issue that raises governance concerns for multinationals," Chapters, in: Michel Magnan & Giovanna Michelon (ed.), Handbook on Corporate Governance and Corporate Social Responsibility, chapter 23, pages 310-323, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21347_23
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    File URL: https://www.elgaronline.com/doi/10.4337/9781802208771.00034
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