Corporate investments in tax havens : evidence from India

Mukundhan, K. V. and Sahasranamam, Sreevas and Cordeiro, James J. (2019) Corporate investments in tax havens : evidence from India. Asian Business & Management. pp. 1-33. ISSN 1476-9328 (In Press)

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Little is known about the drivers of corporate investments in tax havens from emerging markets. This paper offers extensive descriptive statistics and regression analysis to illustrate the patterns and motivations for tax haven investments by Indian firms over the 2007-2017 period. We find that the motivations for Indian firms to invest in tax havens are not only driven by the benefits of tax avoidance and secrecy of these jurisdictions, but also to seek strategic advantage and efficiency gains in global markets.