Conclusion
Despite the economic importance of financial markets
and institutions, emerging countries often suffer from
a high level of corruption in this economic sector. The
purpose of this article was to understand the institutional
reasons for the importance of corruption in
financial institutions in emerging countries. Based on
the neo-institutional literature, our research aims to
show the link between corruption and organizational
isomorphism in financial institutions in emerging
countries. This type of research is difficult since the
central concept of corruption is by nature hidden. We
have chosen therefore to use direct collection of data
through interviews with 70 executives in 18 emerging
countries. A questionnaire was built with various
statements linked to a quantitative answer scale. This
entitles us to use a quantitative methodology to analyze
the collected information. The PLS approach was
selected to test our theoretical model. The developed
model provides an integrated approach to the study of
the relationship between corruption and organizational
isomorphism. Our empirical data allowed us to
test various theoretical hypotheses.
We have tested various key hypotheses concerning
the influence of organizational isomorphism on
corruption in financial institutions in emerging
countries. In line with previous research, we have
highlighted that the quality of institutional framework
(including law, enforcement and quality of
financial markets) have a negative influence on the
level of corruption. The better the business environment,
the lower the corruption. Coercive isomorphism
is a key factor to explain various levels of
corruption. Furthermore, mimetic isomorphism is