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This file contains the Active Haven data by Law and Mills, 2021, "Taxes and Haven Activities: Evidence from Linguistic Cues," forthcoming at The Accounting Review.  Please refer to the paper for the construction details.  We constructed the Active Haven data based on the SEC’s 10-Ks, 10-K-As, 10-K405s, 10-KTs, 10-KT-As, 10KSBs, 10KSB-As, 10KSB40s, 10KT405s, and Exhibit 21 filings from 1994 to 2018 generously provided by Bill McDonald.  Specifically, we parsed Exhibit 21s to identify the mentions of tax haven countries.  In the data, each row refers to each filing.  If our algorithm parses a filing but the filing does not contain any information on active tax havens, the filing would still show up in the data (but with null values).  Overall, the active haven data here cover more firms and a longer sample period to December 2018 than the active haven data used in our paper.

The main variable is “Activehaven.”  “Activehaven” is Active Haven and is an indicator variable equal to one if either: (1) the name of a tax haven country in a firm’s Exhibit 21 and a word from the Offshore Input Wordlist appear within 25 words of each other in the firm’s 10-K of a given year, or (2) the name of a tax haven country in a firm’s Exhibit 21 and a word from the Offshore Output Wordlist appear within 25 words of each other in the firm’s 10-K of a given year.

Tax haven countries in these data refer to Andorra, Anguilla, Antigua and Barbuda, Aruba, Bahamas, Bahrain, Barbados, Belize, Bermuda, Cayman Islands, Cook Islands, Costa Rica, Cyprus, Dominica, Gibraltar, Grenada, Guernsey, Hong Kong, Ireland, Isle of Man, Jersey, Lebanon, Liberia, Liechtenstein, Luxembourg, Macau, Malaysia, Malta, Marshall Islands, Mauritius, Monaco, Montserrat, Nauru, Netherlands Antilles, Niue, Panama, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Samoa, San Marino, Seychelles, Singapore, Switzerland, Turks and Caicos Islands, and Vanuatu.

We hope the data are helpful to your research!