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| Author: | Johnson, J. Holub, M.J. |
| Title: | Questioning organizational legitimacy: The case of U.S. expatriates |
| Journal: | Journal of Business Ethics
2003 : OCT II, VOL. 47:3, p. 269-293 |
| Index terms: | Business ethics Corporate responsibility Offshore investment Taxation Tax avoidance Tax evasion USA |
| Freeterms: | Expatriate companies |
| Language: | eng |
| Abstract: | It has been estimated that U.S. companies with global business operations can reduce their U.S. tax bill by up to 10 percentage points if they reincorporate in a zero or low tax offshore jurisdiction. This activity, however, has received a less than sympathetic response from the U.S. media, ordinary taxpayers, shareholders and politicians as concerns are raised about the reduction of the tax base and the lack of oversight and regulation in offshore centres. Expatriate companies have been slow to respond to questions of their legitimacy, viewing their offshore move as a financial decision needing only the consent of their shareholders. However, times have changed and corporate legitimacy is now in the hands of all the company's stakeholders. Companies will need to explicitly consider the determinants of their legitimacy and the implications of the implied social contract under which they operate, to remain relevant in the days ahead. |
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