How Much Do Firms Pay as Bribes and What Benefits Do They Get? Evidence from Corruption Cases Worldwide

@article{Cheung2012HowMD,
  title={How Much Do Firms Pay as Bribes and What Benefits Do They Get? Evidence from Corruption Cases Worldwide},
  author={Y. Cheung and P. R. Rau and A. Stouraitis},
  journal={Experimental & Empirical Studies eJournal},
  year={2012}
}
  • Y. Cheung, P. R. Rau, A. Stouraitis
  • Published 2012
  • Business
  • Experimental & Empirical Studies eJournal
  • We analyze a hand-collected sample of 166 prominent bribery cases, involving 107 publicly listed firms from 20 stock markets that have been reported to have bribed government officials in 52 countries worldwide during 1971-2007. We focus on the initial date of award of the contract for which the bribe was paid (rather than of the revelation of the bribery). Our data enable us to describe in detail the mechanisms through which bribes affect firm value. We find that firm performance, the rank of… CONTINUE READING
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