How do gangs compete for extortion? Using detailed data on individual extortion payments to gangs and sales from a leading wholesale distribution firm in El Salvador, we document new evidence on the determinants of extortion payments and the economic costs of extortion via pass-through. We...

This study examines whether and how anticorruption efforts may mitigate the risk of corporate fraud. Based on a sample of Chinese publicly listed firms over the period of 2008 to 2017, we find that anticorruption efforts reduce the likelihood of fraud commission and increase the likelihood of...