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
收藏
页码：230 / 253
页数：25
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