Is Corruption Detrimental for Stock Returns? Evidence from a Panel of Latin American Firms (2004-2013): A note

Risultato della ricerca: Contributo in rivistaArticolo in rivista

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 originaleEnglish
pagine (da-a)N/A-N/A
RivistaRivista Internazionale di Scienze Sociali
Volume2017
Stato di pubblicazionePubblicato - 2017

Keywords

  • Corruption
  • Latin American Firms
  • Stock Returns

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