The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
Corporate Lobbying and Fraud Detection
Open accessAbstract
This paper examines the relation between corporate lobbying and fraud detection. Using data on corporate lobbying expenses between 1998 and 2004, and a sample of large frauds detected during the same period, we find that firms’ lobbying activities make a significant difference in fraud detection: Compared to nonlobbying firms, on average, firms that lobby have a significantly lower hazard rate of being detected for fraud, evade fraud detection 117 days longer, and are 38% less likely to be detected by regulators. In addition, fraudulent firms on average spend 77% more on lobbying than nonfraudulent firms, and they spend 29% more on lobbying during their fraudulent periods than during nonfraudulent periods. The delay in detection leads to a greater distortion in resource allocation during fraudulent periods. It also allows managers to sell more of their shares.
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Cites
Investor protection and corporate governance
La Porta, R., Lopez-de-Silanes, F., Shleifer, A., & Vishny, R. (2000) · Journal of Financial Economics · doi:10.1016/s0304-405x(00)00065-9 · Cited by 6,848
Institutions, ownership, and finance: the determinants of profit reinvestment among Chinese firms
CULL, R., & XU, L. (2005) · Journal of Financial Economics · doi:10.1016/j.jfineco.2004.05.010 · Cited by 1,023
Cited by
Amiram, D., Bozanic, Z., Cox, J. D., Dupont, Q., Karpoff, J. M., & Sloan, R. (2018) · Review of Accounting Studies · doi:10.1007/s11142-017-9435-x · Cited by 422
Advancing the Empirical Research on Lobbying
de Figueiredo, J. M., & Richter, B. K. (2014) · Annual Review of Political Science · doi:10.1146/annurev-polisci-100711-135308 · Cited by 367
CEO Sociopolitical Activism: A Stakeholder Alignment Model
Hambrick, D. C., & Wowak, A. J. (2021) · Academy of Management Review · doi:10.5465/amr.2018.0084 · Cited by 322
The effect of political uncertainty on the cost of corporate debt
Waisman, M., Ye, P., & Zhu, Y. (2015) · Journal of Financial Stability · doi:10.1016/j.jfs.2015.01.002 · Cited by 270
Determinants and Effects of Corporate Lobbying
Hill, M. D., Kelly, G. W., Lockhart, G. B., & Van Ness, R. A. (2013) · Financial Management · doi:10.1111/fima.12032 · Cited by 266
Metadata
- Authors
- Yu, F., & Yu, X.
- Venue
- Journal of Financial and Quantitative Analysis
- Publisher
- Cambridge University Press (CUP)
- Published
- 2011-06-06
- Volume
- 46
- Issue
- 6
- Pages
- 1865-1891
- ISSN
- 0022-1090 (ISSN-L)
- 1756-6916
- OpenAlex
- W3125484369
- Cited by
- 519
- References
- 2
- FWCI
- 19.35
- Type
- journal article
- Language
- en
- Open access
- green
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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