variables predicts 32% of the variance of the corruption
intensity.
First, we predicted that an increase of competition
in emerging countries between financial institutions
is likely to lead to corrupted behavior. We obtained
a positive relationship between the intensity of
competition and the level of corruption. Competitive
isomorphism on the matter of corruption was
supported by our empirical data. Our data shows that
the higher the competition, the higher the corruption.
This heterodox hypothesis could be explained
by the fact that in a first period of economic
development, financial institutions in emerging
countries facing higher competition may try to
increase or secure their market shares partially using
corruption. In a second period, the intensity of
competition may lead to a reduction of corruption.
Second, coercive isomorphism also influences
financial institutions in emerging countries to adopt
corrupt practices. Indeed, financial enterprises are
dependent on their institutional environment and
they adopt structures and behaviors according to it.
The quality of the business system (notably the
quality of the legal framework, the importance of
law enforcement and quality of financial markets)
influences the level of corruption in financial institutions
in emerging countries.
Third, mimetic isomorphism also explains the
potential level of corruption. If the level of unfair
practices in the financial service industry is important,
a local financial institution will be more likely
to adopt corrupted behavior. This is in line with the
idea of the influence of the reference-group on
corruption (Rose-Ackerman, 2002).
Fourth, our theoretical development lead us to
predict that the more politicians and bureaucrats
exercise control rights over financial institutions,
the less the financial institutions may adopt a
corrupted behavior. This is also a heterodox
hypothesis. Indeed, in some cases, the grabbinghand
model characterizes emerging countries with
high political intervention in private firms and
important corruption (Shleifer and Vishny, 1993).
On the contrary, our empirical data lead to us to
verify the negative relationship between the
politicization of economic activity and the level
corruption in financial institutions in emerging
countries. This could be explained by the fact that
the politicization of the economic activity is usually
quite high in the financial industry. In
emerging countries if politicians and bureaucrats
don’t exercise control over financial markets, this
may lead to high corruption and unfair behavior.
There is a minimum of control necessary to regulate
and control financial markets and institutions.
Furthermore, the difference between micro- and
macro-level intervention is not always very clear.
In the first period of economic development in
emerging countries, the intervention of government
in economic activity may be necessary to
have a correct institutional framework.
variables predicts 32% of the variance of the corruptionintensity.First, we predicted that an increase of competitionin emerging countries between financial institutionsis likely to lead to corrupted behavior. We obtaineda positive relationship between the intensity ofcompetition and the level of corruption. Competitiveisomorphism on the matter of corruption wassupported by our empirical data. Our data shows thatthe higher the competition, the higher the corruption.This heterodox hypothesis could be explainedby the fact that in a first period of economicdevelopment, financial institutions in emergingcountries facing higher competition may try toincrease or secure their market shares partially usingcorruption. In a second period, the intensity ofcompetition may lead to a reduction of corruption.Second, coercive isomorphism also influencesfinancial institutions in emerging countries to adoptcorrupt practices. Indeed, financial enterprises aredependent on their institutional environment andthey adopt structures and behaviors according to it.The quality of the business system (notably thequality of the legal framework, the importance oflaw enforcement and quality of financial markets)influences the level of corruption in financial institutionsin emerging countries.Third, mimetic isomorphism also explains thepotential level of corruption. If the level of unfairpractices in the financial service industry is important,a local financial institution will be more likely
to adopt corrupted behavior. This is in line with the
idea of the influence of the reference-group on
corruption (Rose-Ackerman, 2002).
Fourth, our theoretical development lead us to
predict that the more politicians and bureaucrats
exercise control rights over financial institutions,
the less the financial institutions may adopt a
corrupted behavior. This is also a heterodox
hypothesis. Indeed, in some cases, the grabbinghand
model characterizes emerging countries with
high political intervention in private firms and
important corruption (Shleifer and Vishny, 1993).
On the contrary, our empirical data lead to us to
verify the negative relationship between the
politicization of economic activity and the level
corruption in financial institutions in emerging
countries. This could be explained by the fact that
the politicization of the economic activity is usually
quite high in the financial industry. In
emerging countries if politicians and bureaucrats
don’t exercise control over financial markets, this
may lead to high corruption and unfair behavior.
There is a minimum of control necessary to regulate
and control financial markets and institutions.
Furthermore, the difference between micro- and
macro-level intervention is not always very clear.
In the first period of economic development in
emerging countries, the intervention of government
in economic activity may be necessary to
have a correct institutional framework.
การแปล กรุณารอสักครู่..
