Do Anti-Bribery Laws Reduce the Cost of Equity? Evidence From the UK Bribery Act 2010

We examine the impact of the U.K. Bribery Act 2010 on the implied cost of equity. We find a significant reduction in the cost of equity amongst U.K. firms with high bribery exposure. We further show that the Bribery Act improves internal control system and increases stock liquidity of firms with high bribery exposure. Our results suggest that more stringent anti-bribery regulations are not always bad for the firm

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Year of publication:	[2020]
Authors:	Kim, Suhee ; Rees, Bill ; Sila, Vathunyoo
Publisher:	[S.l.] : SSRN
Subject:	Korruption \| Corruption \| Kapitalkosten \| Cost of capital \| Großbritannien \| United Kingdom

Extent:	1 Online-Ressource (33 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Journal of Business Finance and Accounting, Vol. 47, Issue 3-4, pp. 438-455, 2020 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 1, 2020 erstellt
Classification:	G30 - Corporate Finance and Governance. General ; G38 - Government Policy and Regulation ; K22 - Corporation and Securities Law
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014352368