Our study shows that financial companies are
largely influenced by their institutional environment
in their choice of corrupted behavior to deal with
governments. Since uncorrupted human capital is the
engine of economic development (Wilhem, 2002), it
is important for emerging countries to find ways to
reduce the level of corruption. Considering the impact
of both corruption and financial institutions on
economic development (Mauro, 1995), further
studies must be considered as a major challenge for
economic decision markers and researchers.