macro-level and institutional data and applying the GMM estimation method, the study finds that corruption (a proxy of the … debate regarding the political extraction-cash holdings relationship by examining a context under which corruption is likely …

This paper empirically investigates whether the degree of corruption affected the corporate cash holdings of Chinese … measures of corruption. For firms facing fewer financing constraints, the effect of corruption is more likely to reduce their … cash holdings and exacerbate the tunneling of corporate controlling shareholders. These results indicate that corruption …

This study empirically analyzes the effects of political corruption on corporate cash holdings policy and the impact of … relationship between the political corruption and corporate cash holdings with a negative coefficient of cubic term of political … corruption. Specifically, in developed countries with low levels of political corruption, there is a U-shape relationship between …