Analysis of the organizational corruption effects for shareholders value
- Document type
- Mesquita, Jose Marcos; Miari, Renata; Daniel, Pardini
- British Academy of Management
- Date of publication
- 10 September 2013
- British Academy of Management Conference Proceedings 2013
- Management & leadership: including strategy, public sector management, operations and production
- Business and management
- Material type
This full paper from the Performance Management track of BAM 2013 studied the influence of corruption allegations in the press about creating value for shareholders. It selected four companies that had their names linked to allegations of corruption in the past 10 years. An event study was used to verify if relevant information tends to be immediately reflected in stock prices. The results indicate that the market did not behave efficiently in this analysed period. It was concluded at the end of this paper, that the accusations of corruption not significantly influenced the stock prices of companies analysed in the coming days to events. However, one can observe a negative performance of assets in relation to the market, closer to the dates preceding the date of disclosure, as well as most of the 20 days following the disclosure of the complaints. However, the results can be considered statistically non-significant.
Related to Management & leadership: including strategy, public sector management, operations and production
Downloadable paper looking at the incentive packages of FTSE 350 firms
Downloadable briefing on the voting patterns of shareholders on FTSE 100 CEO pay
Downloadable white paper defining what organsiational purpose is and how it can help drive performance.
Downloadable report looking at what employers think should be done to help prepare students for working life.