This study investigates the association between money laundering control systems (MLCS) and tax haven use based on a sample of U.S. multinational financial corporations (MFCs). We also examine the impact of external auditor specialization on the association between MLCS and tax haven use. We find that MLCS is significantly negatively associated with tax haven use. Our result is also economically significant. Based on our regression estimates, a one-standard deviation increase in MLCS is associated with a decrease in tax haven use by around 2.75%. Additional analysis shows that external auditor specialization magnifies the negative association between MLCS and tax haven use. Overall, our study indicates that MLCS and the external audit function have important consequences for tax haven use by MFCs.

中文翻译：

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洗钱控制系统、外部审计师专业化和避税港使用：美国跨国金融公司的实证分析

本研究基于美国跨国金融公司 (MFC) 的样本，调查了洗钱控制系统 (MLCS) 与避税港使用之间的关联。我们还研究了外部审计师专业化对 MLCS 和避税港使用之间关联的影响。我们发现 MLCS 与避税港的使用显着负相关。我们的结果在经济上也很重要。根据我们的回归估计，MLCS 的一个标准差增加与避税港使用减少约 2.75% 相关。额外的分析表明，外部审计师专业化放大了 MLCS 和避税港使用之间的负面关联。总体而言，我们的研究表明，MLCS 和外部审计职能对 MFC 使用避税港具有重要影响。