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States of nature and indicators of manager’s corruption in Indonesia (article of Global Journal of Business Research Volume 4 Number 3 2010)
Bibliografi
Author:
Mahadwartha, Putu Anom
Topik:
Growth
;
maturity
;
star
;
decline
;
free cash flow
;
dividend
;
leverage
;
corruption
Bahasa:
(EN )
Penerbit:
The Institute for Business and Finance Research (IBFR)
Tempat Terbit:
HILO, HI (Hawaii)
Tahun Terbit:
2010
Jenis:
Article - diterbitkan di jurnal ilmiah internasional
Fulltext:
unpan047800.pdf
(1.05MB;
16 download
)
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Abstract
This research investigates private sector corruption. The research focuses on a firm's
life cycle as it relates to corruption. Free cash flows to dividends and leverage are used
as indicators of private sector corruption. The research examines Non-financial firms listed on the Indonesia Stock Exchange from 1994 to 2006 including 1,680 observation years. Six hypotheses are tested using the Generalized
Methods of Moments and Wald tests. The results demonstrate that leverage policy is a major indicator of firm micro level corruption
while dividend policy is not. The results show
maturity stage firms have the highest corruption levels and declining stage firms have the lowest levels.
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