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.
| Lingua originale | English |
|---|---|
| pagine (da-a) | N/A-N/A |
| Rivista | Rivista Internazionale di Scienze Sociali |
| Volume | 2017 |
| Stato di pubblicazione | Pubblicato - 2017 |
Keywords
- Corruption
- Latin American Firms
- Stock Returns