Purpose The paper investigates the effect of corruption on corporate investment efficiency around the world. Design/methodology/approach The sample includes 218,350 observations from 30,074 firms across 42 countries. The authors measure corruption based on the Corruption Perception Index (CPI)...

"From a taboo topic in the early 1990s, corruption has become an intriguing economic issue attracting broad attention from academics and practitioners. This book is the first attempt to scrutinize the effect of political corruption on corporate finance. It provides readers with a comprehensive...