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Article: Media ownership, concentration and corruption in bank lending

TitleMedia ownership, concentration and corruption in bank lending
Authors
KeywordsBank lending
Corruption
Media concentration
Ownership
Bank supervision
Issue Date2011
PublisherElsevier. 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?
AbstractBuilding 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 Identifierhttp://hdl.handle.net/10722/192336
ISSN
2015 Impact Factor: 3.541
2015 SCImago Journal Rankings: 9.920
SSRN
ISI Accession Number ID

 

DC FieldValueLanguage
dc.contributor.authorHouston, JFen_US
dc.contributor.authorLin, Cen_US
dc.contributor.authorMa, Yen_US
dc.date.accessioned2013-10-24T01:50:01Z-
dc.date.available2013-10-24T01:50:01Z-
dc.date.issued2011en_US
dc.identifier.citationJournal of Financial Economics, 2011, v. 100 n. 2, p. 326-350en_US
dc.identifier.issn0304-405Xen_US
dc.identifier.urihttp://hdl.handle.net/10722/192336-
dc.description.abstractBuilding 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.languageengen_US
dc.publisherElsevier. The Journal's web site is located at http://www.sciencedirect.com/science/journal/0304405X-
dc.relation.ispartofJournal of Financial Economicsen_US
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.rightsNOTICE: 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.subjectBank lending-
dc.subjectCorruption-
dc.subjectMedia concentration-
dc.subjectOwnership-
dc.subjectBank supervision-
dc.titleMedia ownership, concentration and corruption in bank lendingen_US
dc.typeArticleen_US
dc.description.naturepostprint-
dc.identifier.doi10.1016/j.jfineco.2010.12.003en_US
dc.identifier.scopuseid_2-s2.0-79952451065en_US
dc.identifier.volume100en_US
dc.identifier.issue2en_US
dc.identifier.spage326en_US
dc.identifier.epage350en_US
dc.identifier.isiWOS:000288579700006-
dc.identifier.ssrn1556922-

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