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Article: Media ownership, concentration and corruption in bank lending
Title | Media ownership, concentration and corruption in bank lending |
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Authors | |
Keywords | Bank lending Corruption Media concentration Ownership Bank supervision |
Issue Date | 2011 |
Publisher | Elsevier. The Journal's web site is located at http://www.sciencedirect.com/science/journal/0304405X |
Citation | Journal of Financial Economics, 2011, v. 100 n. 2, p. 326-350 How to Cite? |
Abstract | Building on the pioneering study by Beck, Demirguc-Kunt, and Levine (2006), this study examines the effects of media ownership and concentration on corruption in bank lending using a unique World Bank data set covering more than 5,000 firms across 59 countries. We find strong evidence that state ownership of media is associated with higher levels of bank corruption. We also find that media concentration increases corruption both directly and indirectly through its interaction with media state ownership. In addition, we find that media state ownership and media concentration both accentuate the positive link between official supervisory power and lending corruption and attenuate the negative link between the regulations that empower private monitoring and corruption in lending. Media state ownership or media concentration also accentuates the positive link between banking concentration and corruption in lending. Furthermore, the links between media structure and corruption are more pronounced when the borrowing firm is privately owned. |
Persistent Identifier | http://hdl.handle.net/10722/192336 |
ISSN | 2023 Impact Factor: 10.4 2023 SCImago Journal Rankings: 13.655 |
SSRN | |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Houston, JF | en_US |
dc.contributor.author | Lin, C | en_US |
dc.contributor.author | Ma, Y | en_US |
dc.date.accessioned | 2013-10-24T01:50:01Z | - |
dc.date.available | 2013-10-24T01:50:01Z | - |
dc.date.issued | 2011 | en_US |
dc.identifier.citation | Journal of Financial Economics, 2011, v. 100 n. 2, p. 326-350 | en_US |
dc.identifier.issn | 0304-405X | en_US |
dc.identifier.uri | http://hdl.handle.net/10722/192336 | - |
dc.description.abstract | Building on the pioneering study by Beck, Demirguc-Kunt, and Levine (2006), this study examines the effects of media ownership and concentration on corruption in bank lending using a unique World Bank data set covering more than 5,000 firms across 59 countries. We find strong evidence that state ownership of media is associated with higher levels of bank corruption. We also find that media concentration increases corruption both directly and indirectly through its interaction with media state ownership. In addition, we find that media state ownership and media concentration both accentuate the positive link between official supervisory power and lending corruption and attenuate the negative link between the regulations that empower private monitoring and corruption in lending. Media state ownership or media concentration also accentuates the positive link between banking concentration and corruption in lending. Furthermore, the links between media structure and corruption are more pronounced when the borrowing firm is privately owned. | - |
dc.language | eng | en_US |
dc.publisher | Elsevier. The Journal's web site is located at http://www.sciencedirect.com/science/journal/0304405X | - |
dc.relation.ispartof | Journal of Financial Economics | en_US |
dc.rights | This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License. | - |
dc.rights | NOTICE: this is the author’s version of a work that was accepted for publication in Journal of Financial Economics. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in PUBLICATION, [VOL 100, ISSUE 2, (2011)] DOI 10.1016/j.jfineco.2010.12.003 | - |
dc.subject | Bank lending | - |
dc.subject | Corruption | - |
dc.subject | Media concentration | - |
dc.subject | Ownership | - |
dc.subject | Bank supervision | - |
dc.title | Media ownership, concentration and corruption in bank lending | en_US |
dc.type | Article | en_US |
dc.description.nature | postprint | - |
dc.identifier.doi | 10.1016/j.jfineco.2010.12.003 | en_US |
dc.identifier.scopus | eid_2-s2.0-79952451065 | en_US |
dc.identifier.volume | 100 | en_US |
dc.identifier.issue | 2 | en_US |
dc.identifier.spage | 326 | en_US |
dc.identifier.epage | 350 | en_US |
dc.identifier.isi | WOS:000288579700006 | - |
dc.identifier.ssrn | 1556922 | - |
dc.identifier.issnl | 0304-405X | - |