The impact of international bribery on U.S. household stock investments

Emre Kuvvet ()
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Emre Kuvvet: Nova Southeastern University

Journal of Economics and Finance, 2019, vol. 43, issue 2, No 12, 409-419

Abstract: Abstract We find that international bribery violations in U.S. firms reduce U.S. households’ stock market investments. Revelations of such violations in a state reduce households’ stock market participation, diminish the portion of total household stock holdings within the household’s total wealth, decrease the probability that households enter the stock markets, and increase the probability that households exit from the stock market. Our results suggest that morality might be the mechanism by which bribery violations affect local household stock investments.

Keywords: Corruption; International bribery; Household stock investments (search for similar items in EconPapers)
JEL-codes: D14 G30 K22 K42 L51 M14 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s12197-018-9462-x

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