US political corruption: Identifying the channels of bribes for firms' financial policies

被引：6

作者：

Apergis, Emmanuel ^{[1
]}

Apergis, Nicholas ^{[2
]}

机构：

[1] Univ Kent, Canterbury, Kent, England

[2] Univ Piraeus, Piraeus, Greece

来源：

INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS | 2017年 / 54卷

关键词：

Political corruption; Type of bribes; Firms' financial policies; US; CORPORATE CASH HOLDINGS; CAPITAL STRUCTURE; LEVEL EVIDENCE; CROSS-SECTION; PANEL-DATA; DEBT; DETERMINANTS; PERSPECTIVE; GROWTH; INSTITUTIONS;

D O I：

10.1016/j.irfa.2017.09.010

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper presents first-time evidence on 'channel-based' firm corruption in the US, spanning the period 2000-2010. By employing conviction, type of bribery, ethnicity firm-level data, and two alternative panel econometric approaches for robustness, the empirical analysis documents first, that the cash payment channel dominates bribery activities in relevance to the firms' financial policies, while ethnicity groups do matter in exemplifying the role of those channels, with the Anglo-Saxon group dominating such activities. The results could be of substantial importance for regulators in developing venues to capture corruption activities.

引用

页码：87 / 94

页数：8

共 82 条

[1] Fractionalization [J].