Purpose: The Corruption Perception Index (CPI) for 2016 shows Pakistan as among the more corrupt nations in the world with a ranking of 117 among 176 countries surveyed. This situation raises concerns about members of the society and especially about the business communities. This paper aims to...

Purpose: No systematic models are being used in empirical research that provide assurance for the choice of proxies that are being used. The purpose of this paper is to examine the validity of the proxies being used in empirical research, and as a case study, it focuses on the area of financial...