The moderating role of economic uncertainty via corruption on investment: evidence from European firm level

被引：1

作者：

Akron, Sagi ^{[1
]}

Demir, Ender ^{[2
]}

Diez-Esteban, Jose Maria ^{[3
]}

Garcia-Gomez, Conrado Diego ^{[4
]}

机构：

[1] Univ Haifa, Fac Social Sci, Sch Business Adm, Haifa, Israel

[2] Reykjavik Univ, Sch Social Sci, Dept Business Adm, Reykjavik, Iceland

[3] Univ Burgos, Dept Econ & Business Adm, Burgos, Spain

[4] Univ Valladolid, Dept Financial Econ & Accounting, Duques Soria Campus, Soria, Spain

来源：

EUROPEAN JOURNAL OF INTERNATIONAL MANAGEMENT | 2024年 / 22卷 / 02期

关键词：

uncertainty; corruption; moderation; corporate investment; world uncertainty index; POLICY UNCERTAINTY; POLITICAL CONNECTIONS; INNOVATION; ENTREPRENEURSHIP;

D O I：

10.1504/EJIM.2024.135936

中图分类号：

C93 [管理学];

学科分类号：

12 ; 1201 ; 1202 ; 120202 ;

摘要：

This paper uniquely examines the moderation effect of economic uncertainty via corruption's impact on the firm level investment. By using a sample of firms from 30 countries in Europe for the period 2011-2020, we first observe a direct negative effect of either economic uncertainty or corruption on firms' capital expenditures. More importantly, we crucially find a positive moderation effect of uncertainty on corruption, amplifying corruption's impact on the corporate investment. The findings, robust to country, industry and time fixed-effects, shed important light on the East-Asian countries growth puzzle.

引用

页码：230 / 253

页数：25

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