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.

Bellavite Pellegrini, C., Caruso, R., Is Corruption Detrimental for Stock Returns? Evidence from a Panel of Latin American Firms (2004-2013): A note, <<RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI>>, 2017; 2017 (1): N/A-N/A [http://hdl.handle.net/10807/84349]

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

Bellavite Pellegrini, Carlo;Caruso, Raul
2017

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.
eng
Impact Factor 2015/2016: 0.24
Bellavite Pellegrini, C., Caruso, R., Is Corruption Detrimental for Stock Returns? Evidence from a Panel of Latin American Firms (2004-2013): A note, <>, 2017; 2017 (1): N/A-N/A [http://hdl.handle.net/10807/84349]
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/10807/84349
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