Yan‐Leung Cheung
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View article: What Determines the Return to Bribery? Evidence from Corruption Cases Worldwide
What Determines the Return to Bribery? Evidence from Corruption Cases Worldwide Open
We analyze a hand-collected sample of bribery cases from around the world to describe how the payment of bribes affects shareholder value. The net present value of a bribe conditional on getting caught is close to zero for the median firm …