Columnists seldom give advice to the ultra riche who could crush them. Still, I’m willing to risk telling the private-jet set that starving your workforce’s countries of the taxes that fund healthcare and education is a really bad look.
It’s a view, new research says, that is shared beyond the sphere of the justifiably judgmental working class. Investors also see the ugliness of risk in companies who incorporate in tax havens.
The research was conducted by Christina Lewellen, an assistant professor of accounting in North Carolina State University’s Poole College of Management, compared data from more than 7,500 publicly traded companies incorporated in countries that are not tax havens with data from 500 companies based in the same countries, but incorporated in one of 20 tax haven countries.