• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.241-249
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• 2020

This study aims to empirically examine the effect of foreign direct investment (FDI) and corruption on the development of public-service sectors in 10 ASEAN countries. It then investigates whether this relationship is different between two FDI compositions including greenfield FDI and FDI in the form of cross-border merger and acquisitions (M&As). Using a panel database of 10 ASEAN countries during the period 1996-2015 from various sources including the World Development Indicators of the World Bank and UNCTAD, we first find that FDI strongly and positively contributes to the development of the public-service sectors in the recipient nations, except for the electricity sector. However, we show that this relationship is dependent on the type of FDI modes of entry. Specifically, while greenfield investment exerts a beneficial influence on the development of telecommunication and transportation sectors, cross-border M&A has no effect on these sectors, perhaps because of the distinct differences among three public service sectors. Finally, we found that in a highly corrupt environment, aggregate FDI might have no influence on all three public-service sectors, possibly because the two contradictory influences of the interaction terms between corruption and two FDI sub-types seem to cancel each other out.

• Fire Science and Engineering
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• v.22 no.5
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• pp.125-136
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• 2008

Corruption of the bureaucratic society can cause the whole society to corrupt and it can also increase public expense gradually because of the civil society's distrust of the administration. Throughout experience of front-line firefighters, this study lets the entire firefighters take an interest in increasing integrity and make it the primary assignment of fire administration. It is the most important to find out the illogical systems and try to improve them in order to solve the increasingly secret and sophisticated forms of corruption completely. The purpose of this study is to show the ways to improve firefighters' integrity by analyzing and pointing out the main factor and the realities of corruption of firefighters.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.1
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• pp.47-58
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• 2019

The purpose of this paper is to examine the relationship between the nature of controlling shareholders and corporate anti-corruption practice disclosure (ACPD) as well as the mediating role of political background of the chairman or CEO of the firm on the relationship between the two. The content analysis was conducted to extract ACPD from standalone corporate social responsibility reports (CSRR) of 703 China's A-share listed companies. A dummy variable was constructed according to whether a firm disclosed ACPD or not. Logistic regression analysis was used then. Results show that the nature of controlling shareholders has a significant impact on corporate ACPD, with central enterprises disclosing the most frequently, local state-owned enterprises the second and private enterprises the least. Political background of the chairman or CEO has a negative impact on corporate ACPD of state-owned enterprises. These findings have some useful insights in understanding the rent-seeking behavior and information disclosure behavior of corporates in emerging markets. In order to curb the serious corruption problem which is commonplace in developing countries like China, the government should exert certain pressure to strengthen the supervision of information disclosure of listed firms and improve information transparency.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.665-672
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• 2021

The paper examines the impact of shadow economy and corruption, along with public expenditure, trade openness, foreign direct investment (FDI), inflation, and tax revenue on the economic growth of the BRICS countries. Data were collected from the World Bank, Transparency International, and Heritage Foundation over the 1991-2017 period. The Bayesian linear regression method is used to examine whether shadow economy, corruption and other indicators affect the economic growth of countries studied. This paper applies the normal prior suggested by Lemoine (2019) while the posterior distribution is simulated using Monte Carlo Markov Chain (MCMC) technique through the Gibbs sampling algorithm. The results indicate that public expenditure and trade openness can enhance the BRICS countries' economic growth, with the positive impact probability of 75.69% and 67.11%, respectively. Also, FDI, inflation, and tax revenue positively affect this growth, though the probability of positive effect is ambiguous, ranging from 51.13% to 56.36%. Further, the research's major finding is that shadow economy and control of corruption have a positive effect on the economic growth of the BRICS countries. Nevertheless, the posterior probabilities of these two factors are 62.23% and 65.25%, respectively. This result suggests that their positive effect probability is not high.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.1269-1275
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• 2021

The phenomenon of money laundering through capital market instruments and various investment instruments in it is a challenge for law enforcement officials, particularly the Corruption Eradication Commission (KPK) in investigating money laundering crimes originating from corruption. This study aims to analyze comprehensively about: (1) implementation of policies on prevention and eradication of money laundering at the KPK in the context of handling money laundering on the capital market; and (2) an effective model for implementing policies to prevent and eradicate money laundering in the KPK in the context of handling money laundering on the capital market. By using a qualitative approach and Interactive Model analysis from Miles and Huberman, it was concluded that the results of the implementation of the policy of preventing and eradicating money laundering at the Corruption Eradication Commission in the context of handling money laundering crimes in the capital market had a positive impact on society, individuals and groups. The theoretical implications of the results of this study are related to the content of policy that is still relevant but for the context of implementation it needs to be refined or reconstructed by adding three elements, namely: communication, monitoring, and evaluation and security.

• KDI Journal of Economic Policy
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• v.34 no.4
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• pp.157-188
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• 2012

We study the relationship between the closedness of public service recruitment system and the corruption rampant between private firms and public servants. Empirically we test our claim that the closedness of public service recruitment system tends to heighten the corruption level of each country. Our results show that the closedness is positively correlated with bureaucracy corruption levels indexed by IMD, WEF, and World Bank.

• International Commerce and Information Review
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• v.15 no.1
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• pp.287-307
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• 2013

Numerous discussions on the KORUS FTA has been centered around issues on trade in goods, services, or dispute settlement mechanisms. On the other hand, little attention has been given to Chpater 21 of the KORUS FTA on transparency, especially Article 21.6 which states about anti-corruption. Article 21.6 and the Foreign Corrupt Practices Act shares the common purpose to prevent corruptive business practice, and they show similarities in many aspects. The FCPA enforcement has dramatically increased over the past ten years by the U.S. Department of Justice and Securities Exchange Commission stretching its jurisdiction to foreign nationals and companies. Korean business professionals and corporations are exposed to both Article 21.6 and the FCPA on corruption issues. Thus, it is imperative to understand Article 21.6 to be equipped with anti-corruption compliance programs. This paper examines the FCPA and Article 21.6 through comparative analysis and proposes appropriate measures for Korea to take.

• Korea Trade Review
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• v.43 no.1
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• pp.177-197
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• 2018

This paper aims to analyze the effects of external uncertainty on the entry modes decision of multinational firms. On the basic assumption that the entry modes of the firms are dependent on ex-ante or ex-post perceived risk, we empirically analyzed the impacts of perceived risk factors on the investment patterns of firms. We found that the larger the population, the higher the level of GDP per capita, and the larger the trade volume as a ratio of GDP resulted in increased M&A FDI and greenfield FDI. The economic growth rate variables were found to be significantly positive effect on only greenfield entry mode. Regarding the main variables, lower levels of corruption and increased stability regarding political issues resulted in the host country receiving increased M&A investment. However, we found only a positive statistical significance of the political stability variable on the explaining greenfield FDI. Results show that M&A entry mode is affected by both corruption and political instability level. However, the greenfield FDI featuring sunk costs, seems more responsive to political instability.

• Journal of Contemporary Eastern Asia
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• v.16 no.1
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• pp.48-68
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• 2017

Manual elections processes in Egypt have several negative effects; that mainly leads to political corruption due to the lack of transparency. These issues negatively influence citizen's participation in the political life; while electronic voting systems aim to increase efficiency, transparency, and reduce the cost comparing to the manual voting. The main research objectives are, finding the successful factors that positively affects E-voting implementation in Egypt, in addition of finding out the reasons that keep Egyptian government far from applying E-voting, and to come up with the road map that Egyptian government has to take into consideration to successfully implement E-voting systems. The findings of the study suggest that there are seven independent variables affecting e-voting implementation which are; leadership, government willingness, legal framework, technical quality, awareness, citizen's trust in government and IT literacy. Technology-Organization-Environment (TOE) theory was used to provide an analytical framework for the study. A quantitative approach (i.e., survey questionnaire) strategy was used to collect data. A random sampling method was used to select the participants for the survey, whom are targeted voters in Egypt and have access to the internet, since the questionnaire was distributed online and the data is analyzed using regression analysis. Practical implications of this study will lead for more citizen participation in the political life due to the transparency that E-voting system will create, in addition to reduce the political corruption.

• Korean Journal of Agricultural Science
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• v.45 no.1
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• pp.128-136
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• 2018

The Anti-corruption Law has been enforced since Sep. 28, 2016 to prevent public servants from colluding with people for political favors and financial gain by giving bribes to public servants. Generally, most people in Korea think that the law has had a positive effect on society. Under this law, people believe that our society has become more transparent. However, domestic producers think the law has had negative effects on the Korean livestock industry. Statistics from the domestic livestock industry show that the Hanwoo price has dropped after the law was enforced. This study attempts to show how livestock prices in the Korean livestock industry have changed after the enactment of the law. We chose three important livestock industries, Hanwoo, pork, and chicken, to determine and compare the effects of the law on them. For the analysis, we used a time-series model, VAR, to incorporate the interactions of the three industries. We selected the average wholesale prices of these industries. Daily prices during the last 5 years were used to estimate and forecast the impacts of the law. The results show that the price of Hanwoo decreased after the enforcement of the law; however, the other livestock prices did not decrease. Additionally, we clearly saw this negative effect on the Hanwoo industry during the high demand season and New Year's Day (solar and lunar together).