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The role of Caribbean tax havens and offshore financial centres in chinese outward foreign direct investment.

Sutherland, D. and El-Gohari, A. and Buckley, P.J. and Voss, H. (2010) 'The role of Caribbean tax havens and offshore financial centres in chinese outward foreign direct investment.', 2nd Conference on Emerging Market Multinationals, Outward Investment from Emerging Economies. Copenhagen Business School, 25-26 November 2010.

Abstract

Little empirical attention has been paid to the rapid expansion and the apparent decline of foreign direct investment between China and the Caribbean tax havens and offshore financial centres. Building on institutional theories, we argue that investment flows between these jurisdictions are primarily a response to China’s capital market imperfections, with other institutional factors playing a contributing role. Using evidence from 72 Chinese firms for the period 1999 to 2010, we show that such outward investments involve significant capital augmentation and organisational restructuring to enable expansion in China. These processes of identifying and exploiting institutional environments can best be explained using the internalisation theory of foreign direct investment.

Item Type:Conference item (Paper)
Additional Information:Conference details: http://sf.cbs.dk/ofdi/2010_conference/papers
Keywords:Theory of FDI and the MNE, China, Caribbean Tax Havens, Institutional Environment.
Full text:Publisher-imposed embargo
(AM) Accepted Manuscript
File format - PDF
(574Kb)
Status:Public
Publisher Web site:http://gdex.dk/ofdi10/Dylan%20Sutherland%20%20-%20et%20al.pdf
Record Created:23 Oct 2013 13:05
Last Modified:08 Jan 2014 12:30

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