In this study, we investigate the relationship between ownership structure, corruption, and capital investments in firms operating a selected sample of Sub-Saharan Africa (SSA) countries. Using an unbalanced panel over different time periods that ranged from 2003 to 2016, estimating with fixed effects technique, find foreign bribery payments have positive negative effects, respectively, on inve...

One theory argues that state ownership of infrastructure is greater in poor countries because the social returns from investment exceed the private returns by a wider margin. Another theory argues that state ownership is greater when legal and political institutions provide weak enforcement of private property rights or weak limits on government excess. I test these theories using cross-country...

Total institutional ownership, institutional ownership by type of institution (e.g. banks, insurance companies, mutual funds), and a new measure of ownership concentration (similar to the Herfindahl Index) are used to explain contemporaneous bid-ask spreads for 72 quarters (1983-2000) of NASDAQtraded stocks. When controlling for a number of commonly-used variables, relative bid-ask spreads are ...