Chris Jones

Aston University · Economics Finance & Entrepreneurship

This paper examines the determinants of a multinational enterprise's (MNEs) decision to set up tax haven subsidiaries. We adapt the firm-specific advantage–country-specific advantage (FSA–CSA) framework and construct a number of empirically testable hypotheses. The analysis is based on a database covering 14,209 MNEs in twelve OECD countries. We fi...

This paper investigates the association between the Big 4 accountancy firms and the extent to which multinational enterprises build, manage and maintain their networks of tax haven subsidiaries. We extend internalisation theory and derive a number of hypotheses that are tested using count models on firm-level data. Our key findings demonstrate that...

Despite the recent attention in the media and focus in the academic literature on tax havens and tax mitigation strategies, we know very little about how the use of tax havens relates to a firm’s internationalisation strategy. In this paper, we develop a conceptual model that explains how FDI into tax havens relates to the standard FDI motives iden...

By taking an objective and scientific bibliometric analysis approach, this paper presents the first review of the extant knowledge base on tax havens. This analysis has guided us in developing an overarching theoretical framework that examines the determinants of the use of tax havens by multinational enterprises (MNEs). Based on our systematic rev...

Family firms have been associated with an enhanced propensity for corporate social responsibility (CSR), but does this imply that family firms have a reduced propensity for corporate social irresponsibility (CSI)? Drawing on the behavioural agency model (BAM) and socio‐emotional wealth (SEW) perspectives, our study explores the ‘dark side’ of famil...

Tax havens are often connected to growth in tourism, as finance and tourism conveniently share infrastructural prerequisites. This paper addresses the detrimental impacts of a tax haven development strategy adopted by small open economies in relation to the development of their tourism industry. Utilizing the synthetic control method, we find that...

This study investigates whether the completion of an optional ‘sandwich’ work placement enhances graduate starting salaries. We use a variety of multivariate regression techniques to investigate this issue and find that the graduate starting salaries of students who took professional work placements were significantly higher by £1686 ($2105) compar...

This paper presents an investigation of the relationship between home country institutional quality and EMNE investments in tax havens. We develop a conceptual framework that adapts the institutional escapism framework, whereby EMNEs expand globally to escape any home country institutional hazards, together with the institutional leverage framework...

This paper provides empirical evidence on the determinants of attendance at grassroots football matches in the UK. In particular, we investigate how this is affected by both spatial competition from top-flight rival clubs located nearby and temporal substitution due to this rival having a home match on the same day. We find evidence that both of th...

The literature on tax havens utilization by multinational enterprises (MNEs) has largely focused on determinants that are financial or technological in nature. We contribute to this literature by showing important corporate governance determinants for tax haven utilization by Asia-Pacific and OECD country MNEs. Theoretically, we show that ownership...

The research on different characteristics of Asia-Pacific multinationalcorporations (MNCs) in the context of the various institutional and tax regimes, governance issues and executive pay/firm performance implications in tax havens has attracted significant scholarly attention. Drawing on the cross-disciplinary literature as well as the five articl...

The sustained growth and importance of Asia as a hub of economic, social and political activity has attracted significant foreign direct investment and opportunities for economies from the West and other parts of the world to invest in this fast growing region. Regional headquarters and global innovation hubs of large multinational corporations (MN...

This paper seeks to examine the relationship between smoking bans and the propensity of tobacco firms to engage in foreign direct investment (FDI). Using international business theory based on the firm-specific advantage/country-specific advantage (FSA/CSA) matrix, the authors show that, contrary to what one may expect, smoking bans at home are an...

This paper seeks to examine the relationship between smoking bans and the propensity of tobacco firms to engage in foreign direct investment (FDI). Using international business theory based on the firm-specific advantage/country-specific advantage (FSA/CSA) matrix, the authors show that, contrary to what one may expect, smoking bans at home are an...

This study investigates whether the completion of an optional sandwich work placement enhances student performance in final year examinations. Using Propensity Score Matching, our analysis departs from the literature by controlling for self-selection. Previous studies may have overestimated the impact of sandwich work placements on performance beca...

This paper examines the determinants of a multinational enterprise’s (MNEs) decision to invest in countries classified as tax havens. To the best of our knowledge this has not been analysed at the cross-country level before. We use the ownership-location-internalisation (OLI) paradigm and link it with financial specific advantages to develop a numb...

The purpose of this paper is to provide evidence on the link between tax haven presence of MNEs and firm level performance. To the best of our knowledge this has not been done before. By presenting total factor productivity (TFP) and profitability estimates over the period 2002-2011, our results show that MNEs that have tax haven presence perform b...

The theme for the Academy of International Business (UK and Ireland chapter) 2013 Conference was International Business, Institutions and Performance after the Financial Crisis. Developed economies are still reeling from the aftermath of the worst financial crisis since the Great Depression. The bursting of the US housing bubble triggered huge loss...

This article seeks to investigate the relative contributions of foreign direct investment, official development assistance and migrant remittances to economic growth in developing countries. We use a systems methodology to account for the inherent endogeneities in these relationships. In addition, we also examine the importance of institutions, not...

The purpose of this paper is to examine the determinants of a firm's strategy to invest in a conflict location. To the best of our knowledge, this has not been done before. We examine this using a standard model of international business, overlaid with the fundamental approach to corporate social responsibility. We start with the population of mult...

Summary This paper explores tariff reform in Ethiopia, Kenya, Tanzania and Uganda between the early 1990s and early 2000s. Tariffs were reformed in an across the board manner consistent with implementing World Bank programs: the average tariff was reduced and the dispersion of tariffs was compressed, with the highest tariffs being eliminated. There...

The purpose of this paper is to examine, using panel data econometric techniques, the determinants of a firm’s strategy to invest in a conflict location. To the best of our knowledge this has not been done before. We use a large database of firm-level data that includes 2858 multinational firms that have a subsidiary in a developing country (during...

The East African Community (EAC), comprising Kenya, Tanzania and Uganda, came into force on 7 July 2000 with a Common External Tariff (CET) established in January 2005. This Trade Policy Review (TPR) of the EAC is timely as all three countries had implemented significant trade liberalisation since the late 1980s while the CET represented an asymmet...

Policy-makers and analysts are often concerned with the effect of tariff reductions, as part of trade liberalisation, on the volume of imports, and in particular adverse effects on domestic import-competing sectors. While there is limited evidence at an aggregate country level that imports increase following trade liberalisation, there is very litt...

This paper applies panel data methods to a simple imperfect substitutes model to estimate import demand elasticities for ten African countries. The elasticities are estimated at three levels of aggregation. Firstly, we generate aggregate elasticities for each country. Secondly, we use interactive dummy variables to create estimates for 16 sectors d...

This paper contributes empirically to our understanding of informed traders. It analyzes traders' characteristics in a foreign exchange electronic limit order market via anonymous trader identities. We use six indicators of informed trading in a cross-sectional multivariate approach to identify traders with high price impact. More information is co...

Lawrence R. Klein pioneered the work on aggregation, in particular in production functions, in the 1940s. He paved the way for researchers to establish the conditions under which a series of micro production functions can be aggregated so as to yield an aggregate production function. This work is fundamental in order to establish the legitimacy of...