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CORRUPTION AND CORPORATE GOVERNANCE: A CROSS-NATIONAL STUDY
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David T. Ng 
, Kun Qian, Adam Dix
Abstract
This paper examines the importance of country-level corruption in explaining the variation of firm-level corporate governance. Analysis of firm-level corporate governance data and country level corruption data on over 400 companies in 26 countries confirms the hypothesis that corruption has a statistically significant negative impact on the quality of a firm’s corporate governance. One standard deviation increase in country-level corruption is associated with a 0.5 to 0.7 standard deviation decrease in firm-level corporate governance scores.
Keywords: Corporate Governance, Corruption, Investor Protection, Valuation
How to cite this paper: Ng, D., Qian, K., Dix, A. (2008). Corruption and corporate governance: a cross-national study. Corporate Ownership & Control, 5(3-2), 299-315. https://doi.org/10.22495/cocv5i3c2p6
