Corruption is a vice that affects most if not all societies. With the ever increasing complexities of financial markets …, corruption could potentially have severely adverse effects on the markets. This study examined the effect of announcement of … corruption scandals on stock return volatility on the Nairobi Securities Exchange. The corruption scandals chosen were; the …

This paper investigates the effects of corruption on equity price volatility using a sample of over 10,000 firm … construct experience-based annual corruption measures termed \emph{local corruption} to match the firm's size, industry …-industry-location-country-specific factors. We document a robust positive association between corruption and firm-specific equity price volatility. Additionally …