Adequate wages are an important tool to shield public officials from special interests and corruption. But what is the equilibrium effect of higher wages in the presence of criminal pressure groups, who use both bribes and violence? By means of a regression discontinuity design, we show that an...

The study aims to examine the impact of different types of political connections in Pakistan on the performance of firms. We further examine whether the presence of external monitors, such as foreign and institutional investors, can moderate the impact of political connections on the performance...