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Article
Publication date: 21 June 2021

Olatunde Julius Otusanya and Gbadegesin Babatunde Adeyeye

This paper aims to assess the role of secrecy jurisdictions in providing supply-side stimulants for illicit financial flows from developing countries and how the tax havens…

1430

Abstract

Purpose

This paper aims to assess the role of secrecy jurisdictions in providing supply-side stimulants for illicit financial flows from developing countries and how the tax havens structures shape the role of actors. Specifically focussing on decades of trade liberalisation and markets, and of increasingly rapid movement of people, capital and information across regions and around the globe, the paper draws on the political economy theory of globalisation to illuminate the connections between capital flight, money laundering and global offshore financial centres (OFCs).

Design/methodology/approach

The paper uses publicly available evidence to shed light on the role played by tax havens in facilitating money laundering, capital flight and corruption. The issues are illustrated with the aid of case studies.

Findings

The evidence shows that, in pursuit of organisational and personal interest, the tax havens create enabling structures that support illicit activities of the political and economic elites from developing countries. The paper further argues that the supply-side of corruption severely limits the possibilities of preventing corruption in developing countries.

Research limitations/implications

The paper uses publicly available evidence to illuminate the role played by OFCs in facilitating elite corruption and money laundering practices.

Practical implications

It is impossible to quantify the volume of money laundered, but it has been estimated that money laundering may account for as much as 5% of the world economy.

Social implications

The paper, therefore, suggests that unless this supply-side of corruption is tackled there is little prospect for an end to aid dependency and the creation of economically stable and democratic states in developing countries.

Originality/value

The paper examines predatory practices of the international financial industry in tax havens and OFCs in facilitating money laundering, corruption and capital flight and the challenges posed for the economic development of developing countries.

Details

Journal of Financial Crime, vol. 29 no. 1
Type: Research Article
ISSN: 1359-0790

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Article
Publication date: 1 February 1987

Kang Rae Cho, Suresh Krishnan and Douglas Nigh

Since 1970 there has been a phenomenal growth in the establishment of foreign commercial banks in the United States thus altering the competitive dimension of US banking markets…

284

Abstract

Since 1970 there has been a phenomenal growth in the establishment of foreign commercial banks in the United States thus altering the competitive dimension of US banking markets. An analysis of the state of foreign banking presence in the United States is here provided using recent disaggregated bank‐level information. Foreign commercial banks' country of origin, timing of entry, forms of involvement, main areas of specialisation, and related offices in the United States are investigated.

Details

International Journal of Bank Marketing, vol. 5 no. 2
Type: Research Article
ISSN: 0265-2323

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Article
Publication date: 6 July 2012

Olatunde Julius Otusanya and Sarah Lauwo

In addition to contributing to the supply side of corruption in Africa, the West has historically played a major role in laundering the proceeds. The Offshore Financial Centres…

1911

Abstract

Purpose

In addition to contributing to the supply side of corruption in Africa, the West has historically played a major role in laundering the proceeds. The Offshore Financial Centres (OFCs) are characterised as jurisdictions that attract a high level of non‐resident financial activity. The purpose of this paper is to examine how senior political figures, their relatives and close associates have used OFCs in moving funds that may be a product of foreign corruption into Western countries.

Design/methodology/approach

The paper locates the role of OFCs within the political economy theory of globalisation to argue that mobility of capital has been promoted by a number of advanced countries and micro‐states that use their sovereignty and law‐making powers to create an environment conducive to anti‐social practices by the major corporations and the political elite. The paper uses publicly available evidence to illuminate the role played by offshore financial centres in facilitating elite money laundering practices.

Findings

The evidence shows that, in pursuit of organisational and personal interest, the offshore financial centres create enabling structures that support illicit activities of the political and economic elite from developing countries. The paper concludes that the establishment of money laundering laws and the creation of anti‐money laundering agencies had not brought about ethical conduct within the global banking systems.

Practical implications

It is impossible to quantify the volume of money laundered, but it has been estimated that money laundering may account for as much as 5 per cent of the world economy.

Social implications

Substantial amounts of illicit money undoubtedly flow out of developing countries. Combating money laundering is a key goal in all democracies, due to its corrosive efforts on the rule of law, economic development, democratic principles, and its serious consequences for people everywhere.

Originality/value

The paper examines predatory practices of the international financial industry in money laundering activities.

Details

Journal of Money Laundering Control, vol. 15 no. 3
Type: Research Article
ISSN: 1368-5201

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Article
Publication date: 21 May 2009

Jing‐Lin Duanmu and Yilmaz Guney

The upsurge of Chinese and Indian outward foreign direct investment (FDI) raises an unanswered question about locational determinants of direct investment from the two countries…

3075

Abstract

The upsurge of Chinese and Indian outward foreign direct investment (FDI) raises an unanswered question about locational determinants of direct investment from the two countries. Using an unbalanced bilateral FDI database, we find that Chinese and Indian FDI are attracted to countries with large market size, low GDP growth, high volumes of imports from China or India, and low corporate tax rates. We also find important differences between China and India. While Chinese FDI is drawn to countries with open economic regimes, depreciated host currencies, better institutional environments, and English speaking status, none of these factors are important for Indian FDI. Chinese FDI is also deterred by geographic distance and OCED membership. However, neither of these has any impact on Indian FDI.

Details

Journal of Asia Business Studies, vol. 3 no. 2
Type: Research Article
ISSN: 1558-7894

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Case study
Publication date: 13 November 2019

John-Gabriel Licht, Jamie O’Brien and Marc Schaffer

This case has three primary objectives. First, it allows students to think through a conceptual cost and benefit analysis associated with the decision-making process in line with…

Abstract

Theoretical basis

This case has three primary objectives. First, it allows students to think through a conceptual cost and benefit analysis associated with the decision-making process in line with basic economic thinking. Students will revisit core concepts of marginal benefit vs marginal cost, the notion of opportunity costs and the role of sunk costs in this type of analysis, while also highlighting the nature of market structure, oligopolies and competition across firms in an industry. The second goal of this case is to consider the role of business ethics in the DC-10 case: specifically, to consider the potential influence of moral awareness and moral disengagement in unethical decisions made by McDonnell Douglas. Students will develop an understanding of these concepts and solidify their learning by applying them to the case and engaging in active discussion. Finally, the third goal of the case allows students to explore organizational culture and specifically offer recommendations for organizations thinking about the link between decision-making, the role of ethics and culture.

Research methodology

The technical reports released by the National Transportation Safety Board along with secondary data such as available public data such as news reports were used to round out the synopsis of the case study.

Case overview /synopsis

This case explores the accidents of two McDonnell Douglas DC-10s in the early 1970s at the onset of the jumbo jet race between Boeing, Lockheed and McDonnell Douglas. It explores the series of events during the “Windsor Incident” in 1972 and the subsequent accident over Paris in 1974. It explores the reasons why the cargo door on the DC-10 was faulty and subsequently why the door was not fixed. It examines the interplay of industry suppliers such as McDonnell Douglas and how they interact with oversight authorities such as the Federal Aviation Authority. The Teaching Note focuses on the economic thinking at McDonnell Douglas, behavioral ethics and organizational culture.

Complexity academic level

This case is best explored over a 90 min session but could be expanded to take up one 3 h session. The authors have used this case format in an undergraduate organizational behavior class, an MBA Leadership and Organizational Change class, and an MBA Economics of Managers class. It works particularly well in the MBA setting, as students with work experience can see the links between the mistakes made by McDonnell Douglas and their workplaces.

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Book part
Publication date: 20 June 2008

Jean J. Boddewyn

First, AIB conference themes have reflected the issues thought to be important during its 50 years of operations, and the Fellows have regularly staffed Plenary Sessions devoted

Abstract

First, AIB conference themes have reflected the issues thought to be important during its 50 years of operations, and the Fellows have regularly staffed Plenary Sessions devoted to these yearly themes (e.g., Eden & Lenway, 2001 on globalization).

Details

International Business Scholarship: AIB Fellows on the First 50 Years and Beyond
Type: Book
ISBN: 978-0-7623-1470-6

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Article
Publication date: 1 September 2003

Karen Becker-Olsen

Stadium naming rights programs have proliferated over the past decade, yet we have no direct evidence that these types of sponsorship programs help companies develop their…

414

Abstract

Stadium naming rights programs have proliferated over the past decade, yet we have no direct evidence that these types of sponsorship programs help companies develop their long-term brand equity or even provide a short-term boost to corporate value. This paper examines the impact that naming rights programs have had on the stock values of the corporate sponsors. Using event study analysis, it is found that there are mixed responses to these types of programs. A discussion is provided which helps to explain the mixed results and provides communications mangers with some suggestions on creating more effective naming rights programs.

Details

International Journal of Sports Marketing and Sponsorship, vol. 5 no. 3
Type: Research Article
ISSN: 1464-6668

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Abstract

Details

Functional Structure and Approximation in Econometrics
Type: Book
ISBN: 978-0-44450-861-4

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Article
Publication date: 1 December 1992

Two General Vacuum Equipment vacuum furnaces are due for delivery in Russia early in 1993 under the terms of a contract signed recently by Lancashire‐based General Vacuum…

29

Abstract

Two General Vacuum Equipment vacuum furnaces are due for delivery in Russia early in 1993 under the terms of a contract signed recently by Lancashire‐based General Vacuum Equipment and the foreign trade organisation Tzazhpromexport. The order is the result of negotiations through Axelsen Industries (1984) Ltd., Moscow, who act as agents for General Vacuum Equipment in Russia.

Details

Aircraft Engineering and Aerospace Technology, vol. 64 no. 12
Type: Research Article
ISSN: 0002-2667

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Article
Publication date: 1 June 2000

Grove Koger and Larry Kincaid

D.H. Lawrence thought Lady Chatterley’s Lover was his best and most important novel. Yet he had to pay to have it privately printed. His publishers thought his sexual descriptions…

1973

Abstract

D.H. Lawrence thought Lady Chatterley’s Lover was his best and most important novel. Yet he had to pay to have it privately printed. His publishers thought his sexual descriptions and language were obscene under the censorship laws of the UK and the USA, and they were right. From 1928 until 1959 no‐one could legally publish or sell the unexpurgated novel, and copies were subject to confiscation. All this changed in 1959 when Charles Rembar successfully defended Grove Press’s right to publish the novel. His defense, which rested on a unique interpretation of Justice Brennan’s opinion in Roth v. United States, introduced the redeeming‐social‐value test for obscenity. Within six years it revolutionized American obscenity laws, ensuring that sexual material with even a small measure of social value would enjoy First Amendment protection.

Details

Reference Services Review, vol. 28 no. 2
Type: Research Article
ISSN: 0090-7324

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