Local corruption and capital structure

Quoc Trung Tran, Van Phong Nguyen, Duong Huy Chuong Dang, Ba Phong Nguyen and Phuong Linh Le

Finance Research Letters, 2023, vol. 55, issue PB

Abstract: This paper examines how local corruption affects capital structure. With a sample of 6,156 observations from 601 firms listed in Vietnam, we find that local corruption is positively and negatively related to capital structure and capital structure adjustment speed respectively. In addition, our findings show that state ownership reduces the positive effect of local corruption on debt ratio.

Keywords: Corruption; Local corruption; Capital structure; Vietnam (search for similar items in EconPapers)
JEL-codes: G32 G34 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:55:y:2023:i:pb:s1544612323003094

DOI: 10.1016/j.frl.2023.103937

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