"Abstract: Using firm-level data from 44 countries, we investigate the relation between corruption and international corporate values. Our analysis shows that firms from more corrupt countries trade at significantly lower market multiples. The effect is both economically and statistically significant. "
Wednesday, October 25, 2006
SSRN-Corruption and International Valuation: Does Virtue Pay? by Charles Lee, David Ng
SSRN-Corruption and International Valuation: Does Virtue Pay? by Charles Lee, David Ng:
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