2018
DOI: 10.1016/j.cjar.2018.05.001
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Local corruption and corporate cash holdings: Sheltering assets or agency conflict?

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Cited by 34 publications
(29 citation statements)
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“…By the upward corruption perception in Nigeria, a firm that tends to take advantage of corruption practices could impair the performance of such a firm. The result contravenes the "grease the wheel" perspective affirming that firms could benefit more in a corrupt environment by getting special treatment through various channels (Brada et al., 2019; Dincer and Fredriksson, 2013; Dutta and Sobel, 2016; Thakur and Kannadhasan, 2019; Xu and Li, 2018).…”
Section: Resultsmentioning
confidence: 77%
“…By the upward corruption perception in Nigeria, a firm that tends to take advantage of corruption practices could impair the performance of such a firm. The result contravenes the "grease the wheel" perspective affirming that firms could benefit more in a corrupt environment by getting special treatment through various channels (Brada et al., 2019; Dincer and Fredriksson, 2013; Dutta and Sobel, 2016; Thakur and Kannadhasan, 2019; Xu and Li, 2018).…”
Section: Resultsmentioning
confidence: 77%
“…Additionally, studies have explored the relationship between cash holdings and financial crisis (Bliss et al, ; Campello et al, , ; Davydova & Sokolov, ; Nason & Patel, ), corruption (Smith, ; Thakur & Kannadhasan, ; Xu & Li, , GDP growth (Graham & Leary, ), creditor rights (Yung & Nafar, ), national cultures (Chen, Dou, et al, ; Ramírez & Tadesse, ), sectors (Bates et al, ; Lamont, ), institutions, and structures such as banks (Francis et al, ; Kahle & Stulz, ), unions (Klasa, Maxwell, & Ortiz‐Molina, ), and governments (Chen, Li, Xiao, & Zou, ; Feng & Johansson, ; Xu, Chen, Xu, & Chan, ).…”
Section: Approaches Regarding Cash Holdings: a Brief Overviewmentioning
confidence: 99%
“…Moreover, firms must hold a greater amount of cash for extraction from corrupt officials (Xu & Li, 2018). Chen ( 2010) concluded that enterprises in corrupt countries had a significantly higher liquid asset ratio by examining data from 47 countries.…”
Section: Cash Holdings and Business Environmentmentioning
confidence: 99%
“…As a result, with the appointment of representatives, firms will prioritise their resources for political goals rather than others. Consequently, SOEs' managers appointed by the government tend to increase firms' cash holdings due to political targets and investments (Xu & Li, 2018).…”
Section: State Ownership and Cash Holdingsmentioning
confidence: 99%
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