The study seeks to examine how the severity of corruption in a country influences corporate governance and financing decisions of firms. We analyse 15-years (1996-2010) data pertaining to 556 non-financial firms drawn from 10 African countries using models that link firm financing, ownership...

Examining the ownership structure and the methods of financing of companies provide important insights for the understanding of the type of institutional reforms in a given socio-economic environment. Much of the literature on corporate accountability in developing economies extends the legal...