State-level public corruption affects firm value, transparency
Thursday, March 31, 2016 - 14:50
in Mathematics & Economics
Firms have significantly lower value and informational transparency when located in areas that are more corrupt, new research indicates. Using the Department of Justice's data on corruption-related convictions of public officials, the researchers found that from 1990 to 2011, firm value was substantially lower in more corrupt states and federal districts.
