We use variation in corruption convictions across judicial districts the US to examine relationship between political and risk-taking of public firms. Firms headquartered regions with high levels have lower total risk idiosyncratic on average. Further analysis shows that tends encourage firms pursue risk-decreasing investments, riskiness their operations, decrease asset liquidity. While manager...

DANIEL KAUFMANN,1 World Bank Governance and corruption remain controversial and misunderstood topics. But they are now given higher priority in development circles and by the corporate sector, including multinationals. Indeed, some donors and international financial institutions (IFIs) increasingly work with emerging economies to help reduce corruption, and increase citizen voice, gender equali...

There is a large literature documenting that high host-country corporate taxes deter foreign direct investment. However, some recent papers have questioned the robustness of this result in developing countries. In this paper we investigate one possible reason: the presence of a trade-off between taxes and good governance. We find that taxes and governance interact and that taxes and corruption ...

1 Traditionally, national governance and corruption challenges have been seen as a) particularly daunting in the poorer countries, with the richer world viewed as example or benchmark, b) anchored within a legalistic framework and focused on the quality of formal institutions, c) a problem of the public sector, and d) divorced from global governance or security issues, which are regarded as sep...

A key response to environmental degradation, climate change and declining biodiversity has been the growing adoption of market principles in an effort to better value the social good of nature. Through concepts such as 'natural capitalism' and 'corporate environmentalism', nature is increasingly viewed as a domain of capitalist endeavour. In this article, we use convention theory and a pluralis...

The focus of this study is to investigate the constraints and barriers in managerial efficiency of corporate sector in Pakistan, not only for the better results of the corporate but also for the whole economy. A comparison of Pakistani corporate sector is made with 32 low income countries. Corruption, crime, gender, finance, infrastructure, innovation of technology, are the major constraints fo...