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| Tekijä: | Houston, J.F. Lin, C. Ma, Y. |
| Otsikko: | Media ownership, concentration and corruption in bank lending |
| Lehti: | Journal of Financial Economics
2011 : MAY, VOL. 100:2, p. 326-350 |
| Asiasana: | bank lending corruption supervision corporate governance |
| Kieli: | eng |
| Tiivistelmä: | Building on the pioneering article by Beck, Demirguc-Kunt, and Levine (2006), this paper examines the impacts of media ownership and concentration on corruption in bank lending using a unique World Bank data set covering over 5,000 firms in 59 countries. Strong evidence is found of media state ownership associating with higher levels of bank corruption. It is also found that media concentration increases corruption both directly and indirectly through its connection with media state ownership. Moreover, we find that media state ownership and media concentration both emphasize the positive link between official supervisory power and lending corruption and attenuate the negative link between the regulations empowering private monitoring and lending corruption. Media state ownership or media concentration also emphasizes the positive link between banking concentration and corruption in lending. In addition, the links between media structure and corruption are stronger when the borrowing firm is privately owned. |
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