We document that the first leak of customer information from a tax-haven bank caused a sudden flight of deposits from tax havens and a sharp decrease in the market value of banks known to be assisting with tax evasion. The loss of market value was largest for the banks most strongly involved in tax evasion. Subsequent leaks had qualitatively similar although smaller effects. Our findings suggest that whistleblowing in tax-haven banks deters offshore tax evaders by increasing the perceived risk of committing and assisting with tax evasion.

中文翻译：

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举报的威慑作用

我们记录了第一次从避税天堂银行泄露客户信息导致存款突然从避税天堂流出，并导致已知协助逃税的银行的市场价值急剧下降。对于逃税最严重的银行来说，市值损失最大。随后的泄漏在质量上相似，但影响较小。我们的研究结果表明，避税银行的举报通过增加对逃税的感知风险和协助逃税来阻止离岸逃税者。