The role of tax havens and offshore financial centers in Asia-Pacific networks: evidence from firm-subsidiary connections

  • Kirsten MartinusEmail author
  • Thomas Sigler
  • Iacopo Iacopini
  • Ben Derudder
Original Article


This paper adds a network dimension to locational theories on multinational corporate strategy to explain how tax havens and offshore financial centers (THOFC) are integrated into the structures of firms listed on five stock exchanges of the Asia-Pacific region. Applying network analysis to firm-subsidiary connections of these listed firms, it highlights differences in the connectivity structures as well as the role of THOFC in exchange subnetworks. It finds considerable variation in the complexity of corporate structures by stock exchange which can be explained by national context and multinational location strategies, and that the prevalence of THOFC within corporate structures cannot be underestimated.


Tax havens Offshore financial centers Social network analysis Economic geography Financial markets 



This work was supported by Australian Research Council (Grant Number DP170104359), as well as the British Engineering and Physical Sciences Research Council (Grant Number EP/N013492/1 and EP/N510129/1).

Supplementary material

41291_2018_51_MOESM1_ESM.docx (20 kb)
Supplementary material 1 (DOCX 19 kb)


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Copyright information

© Springer Nature Limited 2018

Authors and Affiliations

  1. 1.Center for Regional DevelopmentThe University of Western AustraliaPerthAustralia
  2. 2.School of Earth and Environmental SciencesThe University of QueenslandSt LuciaAustralia
  3. 3.School of Mathematical SciencesQueen Mary University of LondonLondonUK
  4. 4.The Alan Turing Institute, The British LibraryLondonUK
  5. 5.Department of GeographyGhent UniversityGhentBelgium

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