Publication:
Corporate Governance and Public Corruption

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dc.contributor.authorCusolito, Ana
dc.date.accessioned2012-03-19T18:38:36Z
dc.date.available2012-03-19T18:38:36Z
dc.date.issued2010-03-01
dc.description.abstractCorporate governance in the private sector and corruption are important for economic development and private sector development. This paper investigates how corporate governance in private-sector media companies can affect public corruption. The analytical framework, based on models of corporate governance, identifies two channels through which media ownership concentration affects corruption: an owner effect, which discourages corruption and a competition-for-control effect that enhances it. When the ownership structure of a newspaper has a majority shareholder, the first effect dominates and corruption decreases as ownership becomes more concentrated in the hands of majority shareholders. Without majority shareholders, the competition-for-control effect dominates and corruption increases with the concentration of ownership of the media company. Thus, the paper shows that cases of intermediate media-ownership concentration are the worst at promoting public accountability, while extreme situations, where the ownership is completely concentrated or widely held, can result in similar and lower levels of corruption.en
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100304154357
dc.identifier.doi10.1596/1813-9450-5233
dc.identifier.urihttps://hdl.handle.net/10986/3719
dc.languageEnglish
dc.relation.ispartofseriesPolicy Research working paper ; no. WPS 5233
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTABILITY
dc.subjectAGENCY COSTS
dc.subjectASSET PRICES
dc.subjectBANK POLICY
dc.subjectBIDS
dc.subjectBRIBE
dc.subjectBRIBES
dc.subjectBROADCASTING SYSTEM
dc.subjectCHARTER
dc.subjectCLOSELY HELD CORPORATIONS
dc.subjectCOLLUSION
dc.subjectCOMPANY
dc.subjectCONSOLIDATION
dc.subjectCONTROLLING SHAREHOLDER
dc.subjectCORPORATE GOVERNANCE
dc.subjectCORPORATE GOVERNANCE AFFECTS
dc.subjectCORPORATE INVESTMENT
dc.subjectCORPORATION
dc.subjectCORPORATIONS
dc.subjectCORRUPT
dc.subjectCORRUPTION
dc.subjectDEMOCRACY
dc.subjectDIVIDEND
dc.subjectDIVIDENDS
dc.subjectDUMMY VARIABLE
dc.subjectECONOMETRICS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC PERFORMANCE
dc.subjectECONOMIC PROGRESS
dc.subjectECONOMIC RESEARCH
dc.subjectEQUILIBRIUM
dc.subjectEQUILIBRIUM PRICE
dc.subjectEX ANTE
dc.subjectEXCHANGE CONTROLS
dc.subjectEXPECTED UTILITY
dc.subjectEXPROPRIATION
dc.subjectEXPROPRIATION OF MINORITY SHAREHOLDERS
dc.subjectFIRM PERFORMANCE
dc.subjectFREE RIDER
dc.subjectFREE RIDER PROBLEM
dc.subjectGOVERNANCE INDICATORS
dc.subjectGOVERNMENT OFFICIALS
dc.subjectGOVERNMENT OWNERSHIP
dc.subjectHOLDING
dc.subjectHOLDINGS
dc.subjectINCOME
dc.subjectINSTRUMENT
dc.subjectINTERNATIONAL BANK
dc.subjectINVESTOR PROTECTION
dc.subjectJOINT VENTURES
dc.subjectLARGE SHAREHOLDER
dc.subjectLARGE SHAREHOLDERS
dc.subjectLIBERALIZATION
dc.subjectMAJORITY SHAREHOLDER
dc.subjectMAJORITY SHAREHOLDERS
dc.subjectMARKET CONCENTRATION
dc.subjectMARKET SHARE
dc.subjectMARKET SHARES
dc.subjectMEDIA
dc.subjectMINORITY OWNERS
dc.subjectMINORITY SHAREHOLDERS
dc.subjectMONOPOLY
dc.subjectMORAL HAZARD
dc.subjectNUMBER OF SHAREHOLDERS
dc.subjectOWNERSHIP CONCENTRATION
dc.subjectOWNERSHIP STRUCTURE
dc.subjectOWNERSHIP STRUCTURES
dc.subjectPOLITICAL ECONOMY
dc.subjectPOLITICAL STABILITY
dc.subjectPOLITICIAN
dc.subjectPOLITICIANS
dc.subjectPRIVATE PROPERTY
dc.subjectPRIVATE SECTOR DEVELOPMENT
dc.subjectPRIVATIZATION
dc.subjectPUBLIC ACCOUNTABILITY
dc.subjectPUBLIC POLICY
dc.subjectPUBLIC SPENDING
dc.subjectREAL GDP
dc.subjectRETURN
dc.subjectSOCIETY
dc.subjectSTOLEN PUBLIC FUNDS
dc.subjectTAX
dc.subjectTURNOVER
dc.subjectVOTERS
dc.subjectWEALTH
dc.titleCorporate Governance and Public Corruptionen
dspace.entity.typePublication
okr.crossref.titleCorporate Governance And Public Corruption
okr.date.doiregistration2025-04-10T11:55:15.621121Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100304154357
okr.guid266281468159600966
okr.identifier.doi10.1596/1813-9450-5233
okr.identifier.externaldocumentum000158349_20100304154357
okr.identifier.internaldocumentum11898111
okr.identifier.reportWPS5233
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2010/03/04/000158349_20100304154357/Rendered/PDF/WPS5233.pdfen
okr.region.administrativeThe World Region
okr.region.administrativeThe World Region
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isAuthorOfPublication2151d2ff-4e3c-5181-b0a1-bf5a52b587ec
relation.isAuthorOfPublication.latestForDiscovery2151d2ff-4e3c-5181-b0a1-bf5a52b587ec
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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