Abstract
This paper empirically investigates the impact of national level of corruption
on stock returns for a panel of listed firms in Latina America for the period
2004-2013. Two measures of corruption are used. Results are mixed. Only
when considering a measure of public capacity in the control of corruption,
coefficients exhibit statistically significant relationships. This can be
considered a plausible indirect cost of corruption. In fact, if governance of
economy gets stronger to prevent corruption, it can also become detrimental
for economic returns.
| Original language | English |
|---|---|
| Pages (from-to) | N/A-N/A |
| Journal | Rivista Internazionale di Scienze Sociali |
| Volume | 2017 |
| Publication status | Published - 2017 |
Keywords
- Corruption
- Latin American Firms
- Stock Returns