Because the empirical literature on the causes of corruption has focused primarily on the demand side of corruption, that is, the corrupt officials who receive bribe payments, the role of the private sector as the supply side of corruption has not been examined thoroughly in this literature. In this article, it is argued that corporate governance is among the important factors determining the l...

We examine how local political corruption affects firm innovation in the United States. We find that firms located in more corrupt districts are less innovative, as measured by their patenting activities. We identify two possible economic channels through which corruption may affect innovation: a disincentive effect and a culture effect. We show that the negative impact of corruption on innovat...

Using firm-level data from 46 countries, we investigate the relation between corruption – the misuse of public office for private gains – and international corporate values. Our analysis shows that firms from more (less) corrupt countries trade at significantly lower (higher) market multiples. This result is robust to the inclusion of many control variables suggested by valuation theory. On ave...

This study investigates the relationship between corporate environmental responsibility and corporate philanthropy. Using a sample of Chinese listed firms from 2008 to 2013, this paper examines the role of corporate environmental responsibility in corporate philanthropy and the moderating influence of the institutional environment using multilevel analysis. The results show that corporate eco-f...

It is difficult to find, at a glance, a clear connection between corruption and the reform processes in the states of the former Soviet Union (FSU). The key to untangling this issue is to look at the peculiarities of their transition strategies and economic crisis compared with those of Central and Eastern European countries. This paper aims to unravel the complex ties between the transition pr...

Patron-clientelism and corruption were traditionally viewed as problems endemic to underdeveloped marginal countries with weak states, powerful self-serving elites, widespread civic disengagement. However, recent decades have seen a dramatic increase in scandals the Global North, particularly its more developed banking financial sectors. Paradoxically, this has occurred despite massive expansio...

Building on an institutionalist framework of the various organizational field-level pressures on firms to engage with the challenge of corruption, we analyse anti-corruption disclosures across a sample of 933 sustainability reports. Such reporting complements anti-corruption initiatives, as it allows the company to demonstrate its commitment. Our results show clear countryand sector-level diffe...