This paper provides a preliminary assessment of the recent impact of what can be called the “IT-enabled services offshoring” process on U.S. domestic employment and earnings in relevant services sectors. It draws upon relatively new international services trade data sets developed by the...

During an intense period of only 14 months, from June 2010 to August 2011, six major cooperation agreements between oil companies were announced in Russia. Almost all of these partnerships involved offshore projects, with an international oil company as one of the partners and Rosneft as the...

This note analyzes recent trends in offshore US dollar funding markets and explores the drivers of dollar funding costs during the COVID-19 pandemic crisis. Preliminary evidence suggests that only part of the sharp increase in observed dollar funding costs can be attributed to the standard...

Based on 10-K textual analysis, we assemble firm-level offshore sales networks (OSN) and find strong return predictability among industry participants that have overlapping offshore sales activities. This intra-industry return predictability based on offshore sales networks is distinct from that...

This paper examines whether and how auditors' pricing decisions are affected by their clients' offshore activities, which are comprehensively measured through a textual analysis technique. We find that offshore activities are positively associated with audit fees, suggesting that offshore...

Industries differ in the extent to which they can offshore their production. I document that industries with low offshoring potential carry a sizeable risk premium compared to industries with high offshoring potential, suggesting that the possibility to offshore affects industry risk. A...

From the Panama Papers to the Paradise Papers, massive document leaks in recent years have exposed trillions of dollars hidden in small offshore jurisdictions. Attracting foreign capital with low tax rates and environments of secrecy, a growing number of offshore jurisdictions have emerged as...

Little is known about how banks shift profits to low-tax countries. Because of their specific business model, banks use other profit shifting channels than non-financial firms. We propose a novel and bank-specific method of profit shifting: the strategic relocation of proprietary trading to...

The study proves evidence of five new empirical facts on the impact of services offshoring on local labour markets. First, services offshoring increases average employment and wages within local labour markets, much more so in the manufacturing industry than in the services one. Second, positive...