Business internationalization as a facilitator of capital flight: the case of the Vicentin group

This paper aims to analyze the relationship between business internationalization and capital flight based on a case study of the national group Vicentin, one of the main agribusiness groups in Argentina that went into default in 2019. The investigation use accounting documentation.om multiple companies that integrate the economic group, including subsidiaries located in tax shelters. This information allows knowing the set of commercial and financial links between the companies. The article analyzes the transformation of the corporate structure of Vicentin and the different types of intra-group transactions that are used to transfer surpluses abroad: manipulation of transfer prices in foreign trade, purchase-sale of companies with related parties and the concretion of intra-firm loans, as the most relevant.