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We provide the first quantitative synthesis of the literature on how financial markets react to the disclosure of financial crimes committed by listed firms. While consensus expects negative stock price returns, the exact size of the effect is far from clear. We survey 111 studies published over...
Persistent link: https://www.econbiz.de/10014347014
in US states may indeed reduce corruption levels among elected representatives. …
Persistent link: https://www.econbiz.de/10010273815
This paper presents an analysis of the effect of bureaucratic corruption on economic growth through a public finance …. Corruption takes the form of the embezzlement of public funds, the effect of which is to increase the government's reliance on …
Persistent link: https://www.econbiz.de/10010264401
We first present a simple model of post-crisis policymaking driven by both public and private interests. Using a novel dataset covering 94 countries between 1973 and 2015, we then establish that financial crises can lead to government interventions in financial markets. Consistent with a public...
Persistent link: https://www.econbiz.de/10013224071
economy may be trapped in a locally stable high-corruption, high-slavery equilibrium and major changes in government policies …
Persistent link: https://www.econbiz.de/10012859047
The nexus between corruption and economic growth has been examined for a long time. Many empirical studies measured … corruption by the reversed Transparency International's Perception of Corruption Index (CPI) and ignored that the CPI was not … 2012-2018 and re-examine the nexus between corruption and economic growth. The cumulative long-run effect of corruption on …
Persistent link: https://www.econbiz.de/10012861457
I examine whether elections influence perceived corruption in the public sector. Perceived corruption in the public … sector is measured by the reversed Transparency International’s Perception of Corruption Index (CPI). The dataset includes … perceived corruption in the public sector increased before elections. The effect is especially pronounced before early elections …
Persistent link: https://www.econbiz.de/10012892191
corruption. On the one hand, if we assume that the goal of criminals involved in corruption is to minimize the probability of … being detected, then corruption represents a demand for money laundering (trigger effect), while money laundering can serve … as an effective way to clean the revenue from corruption for re-investment (multiplier effect). On the other hand …
Persistent link: https://www.econbiz.de/10012867872
We study the effect of a corruption reflection index on internal conflict in Iran using a novel measure of corruption … variance decomposition analyses to track the response of protests to shocks in the level of corruption. Using annual data from … 1962 to 2019, we find a positive and significant response of protests to a positive shock in the news-based corruption …
Persistent link: https://www.econbiz.de/10013307210
This paper evaluates whether the level of public corruption influences COVID-19 case fatality rates. Using cross …-section data, including 64 countries and multiple regression techniques, we find that the level of corruption is positively and …
Persistent link: https://www.econbiz.de/10013239558