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Corporate profitability and the global persistence of corruption

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11640%2F21%3A00542029" target="_blank" >RIV/00216208:11640/21:00542029 - isvavai.cz</a>

  • Alternative codes found

    RIV/67985998:_____/21:00553116 RIV/62156489:43110/21:43919184

  • Result on the web

    <a href="https://doi.org/10.1016/j.jcorpfin.2020.101855" target="_blank" >https://doi.org/10.1016/j.jcorpfin.2020.101855</a>

  • DOI - Digital Object Identifier

    <a href="http://dx.doi.org/10.1016/j.jcorpfin.2020.101855" target="_blank" >10.1016/j.jcorpfin.2020.101855</a>

Alternative languages

  • Result language

    angličtina

  • Original language name

    Corporate profitability and the global persistence of corruption

  • Original language description

    We examine the persistence of corporate corruption for a sample of privately-held firms from 12 Central and Eastern European countries from 2001 to 2015. Using publicly available information and stochastic frontier analysis, we create a proxy for corporate corruption based on a firm’s internal inefficiency. We find that corruption enhances a firm’s profitability. A channel analysis further reveals that inflating staff costs is the most common approach by which firms divert funds to finance corruption. In spite of corruption’s negative effects on a country’s economy, we conclude that it persists because of its ability to improve corporate profitability. We refer to this effect as the Corporate Advantage Hypothesis.n

  • Czech name

  • Czech description

Classification

  • Type

    J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database

  • CEP classification

  • OECD FORD branch

    50202 - Applied Economics, Econometrics

Result continuities

  • Project

    <a href="/en/project/GA18-18509S" target="_blank" >GA18-18509S: Corporate pyramids in Europe: Capital structure, tax shields, efficiency, capital flows and risk distribution</a><br>

  • Continuities

    I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Others

  • Publication year

    2021

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Name of the periodical

    Journal of Corporate Finance

  • ISSN

    0929-1199

  • e-ISSN

    1872-6313

  • Volume of the periodical

    66

  • Issue of the periodical within the volume

    February

  • Country of publishing house

    NL - THE KINGDOM OF THE NETHERLANDS

  • Number of pages

    18

  • Pages from-to

    101855

  • UT code for WoS article

    000642445000023

  • EID of the result in the Scopus database

    2-s2.0-85098992950