National Culture, Corporate Governance and Corruption: A Cross-country Analysis

Boateng, A., Wang, Y., Ntim, C.G., & Glaister, K.W. (2020). National Culture, Corporate Governance and Corruption: A Cross-country Analysis. International Journal of Finance and Economics, Forthcoming.

47 Pages Posted: 14 Jul 2020

See all articles by Agyenim Boateng

Agyenim Boateng

Glasgow Caledonian University

Yan Wang

Leicester Business School, De Montfort University

Collins G. Ntim

University of Southampton Business School, UK; University of Southampton

Keith Glaister

University of Sheffield

Date Written: June 21, 2020

Abstract

Drawing on institutional theory, we examine the impact of corporate governance (CG) on corruption. The interaction effects of national culture and CG on corruption are also examined. By employing a dataset of 149 countries, our baseline findings indicate that the quality of CG practices reduces the level of corruption. Findings also show that three cultural dimensions, namely, power distance, individualism and indulgence moderate the CG-corruption nexus. Our findings indicate that CG and national culture explain the level of corruption among societies, with national culture appearing to matter more than the quality of CG. Our findings remain unchanged after controlling for endogeneities, country-level factors, CG and corruption proxies.

Keywords: Corporate Governance, Corruption, Bribery, National Culture, Institutional Theory

JEL Classification: G3; G34; G38

Suggested Citation

Boateng, Agyenim and Wang, Yan and Ntim, Collins G. and Glaister, Keith, National Culture, Corporate Governance and Corruption: A Cross-country Analysis (June 21, 2020). Boateng, A., Wang, Y., Ntim, C.G., & Glaister, K.W. (2020). National Culture, Corporate Governance and Corruption: A Cross-country Analysis. International Journal of Finance and Economics, Forthcoming., Available at SSRN: https://ssrn.com/abstract=3632204

Agyenim Boateng (Contact Author)

Glasgow Caledonian University ( email )

Scotland
United Kingdom

Yan Wang

Leicester Business School, De Montfort University ( email )

The Gateway
, Leicester, LE1 9BH
United Kingdom

Collins G. Ntim

University of Southampton Business School, UK ( email )

Southampton Business School
Highfield
Southampton, England SO17 IBJ
United Kingdom
+44 (0) 238059 4285 (Phone)
+44 (0) 238059 3844 (Fax)

HOME PAGE: http://www.southampton.ac.uk/business-school/about/staff/cgn1n11.page

University of Southampton ( email )

Southampton, SO17 1BJ
United Kingdom

Keith Glaister

University of Sheffield ( email )

17 Mappin Street
Sheffield, Sheffield S1 4DT
United Kingdom

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