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Stefan Zeume

Stefan Zeume

Assistant Professor of Finance, Ross School of Business

Biography

Stefan's research focuses on corporate finance. In particular, he studies the interplay between firms' institutional environment - such as law enforcement and regulation - and firms' competitiveness. Stefan holds a PhD in Finance from INSEAD and a MSc in Finance and Management from the University of St. Andrews in Scotland, UK.

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The Cost of Being Associated with Tax Havens

Economics & Finance

The Cost of Being Associated with Tax Havens

James O'Donovan, Hannes Wagner & Stefan Zeume

Firms with shell companies in four tax havens linked to the “Panama Papers” leak lost more than US$220 billion in market capitalisation following the revelations. Firms with activities in corrupt countries suffered even greater losses.