PPurpose – The purpose of this paper is to examine the relationship between underwriter reputation and initial public offerings (IPOs) initial returns over a 24-year period, from 1980 to 2003. Design/methodology/approach – Two-stage least-squares regression analysis on data from IPOs offered...

Purpose: The purpose of this paper is to investigate the role of multinational enterprises’ (MNEs) home country corruption in their decision to bribe officials in foreign host countries. Design/methodology/approach: A model that predicts MNE bribing by controlling for a multitude of foreign...

Examining the economics of entrepreneurship from the perspectives of productive versus unproductive entrepreneurial behavior and the role of institutions in economic outcomes, the authors in this book seek to advance the research on institutions by providing a simple framework to analyze the...

Purpose When there is freedom of press, newspapers provide prying eyes that investigate and report the malfeasance by public officials. More prying eyes together with more newspaper readership make monitoring of public officials by the public easier and cheaper. This paper aims to investigate...

There is a view in the literature that curbing corruption is concurrently growth augmenting. We present evidence that such is not always the case: independent of its indirect effects, a drop in corruption is growth augmenting only if there has been a persistent decline in corruption in the past.

Empirical research demonstrates that bribery has a detrimental impact on investment, economic growth, trade, and democratic governments. In response to rising bribery activity and the additional burdens placed on corporate officials by the Sarbanes-Oxley Act of 2002, enforcement of the Foreign...

Saving depends on the incentives to save and the ability to save. The literature provides evidence that many of the key determinants of saving are correlated with the incidence of corruption. There are also a priori reasons to expect a direct relationship between corruption and saving. Our paper...

Purpose – The purpose of this paper is to examine the relationship between underwriter reputation and initial public offerings (IPOs) initial returns over a 24‐year period, from 1980 to 2003. Design/methodology/approach – Two‐stage least‐squares regression analysis on data from IPOs...