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)...

Dividend Policy: A Business Perspective explores the critical role of the business environment in shaping corporate decisions, with a specific focus on dividend policy. A typical business environment commonly has three levels: The first level, the internal environment, encompasses all factors...

"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...

Agency problem between shareholders and creditors can be reduced by two mechanisms namely reputation-building and debt covenant. Prior studies document supporting evidence for both hypotheses with a positive relationship between creditor rights and dividend policy. However, they fail to test...

Purpose: This paper investigates the effect of foreign ownership on corporate investment efficiency in an emerging market. Design/methodology/approach: This paper employs the investment-investment opportunities sensitivity to proxy for investment efficiency. Corporate investment and investment...