Durnev, Art; Guriev, Sergei - Center for Economic and Financial Research (CEFIR), New … - 2007
mitigate the risk of expropriation by reducing corporate transparency. Lower transparency, in turn, leads to inefficient … that the negative effect of expropriation risk on corporate transparency is stronger for industries that are especially … vulnerable to expropriation, in particular, for industries whose profits are highly correlated with oil prices. Controlling for …