In this paper, I examine the signaling value of internationally-recognized quality certification in improving firm's access to finance for 39,638 mostly small and medium-sized firms in 137 countries. I find that certified firms have better access to external finance as compared to otherwise...

Firms operating in corrupt environments routinely face an ethical dilemma. On the one hand, bribery can be used as an efficient strategy to “get things done”. On the other hand, corruption is unethical, illegal, and a social ill that people detest. A corrupt environment is also...