Utilize este identificador para referenciar este registo: http://hdl.handle.net/10362/15384
Título: Market value of corruption
Autor: Almeida, Luís Guilherme Mendonça de
Orientador: Ferreira, Miguel
Palavras-chave: Corruption
Legislation
Governance
Returns
Data de Defesa: Jan-2015
Resumo: This paper studies the impact of the Brazilian anticorruption legislation, PL 6826/2010, on stock returns. I show that, around the law approval date, the greater the link between the corporate and political worlds, the worse is the companies’ performance. Companies awarded with public contracts in 2012 suffer more with the new legislation approval. Firms with above median contract values have 2.9% lower returns than its peers. The negative effect is more pronounced for bigger and more complex entities, associated with higher levels of Corporate Responsibility and Governance and not subject to the US FCPA.
URI: http://hdl.handle.net/10362/15384
Designação: A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics
Aparece nas colecções:NSBE: Nova SBE - MA Dissertations

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