Ibtissem Missaoui
-
1 publications
-
0 downloads
-
99 views
- 351 Views
-
0 books
-
Quantitative relationship between corruption and development of the Tunisian stock market
Ibtissem Missaoui , Mohsen Brahmi , Jaleleddine BenRajeb doi: http://dx.doi.org/10.21511/pmf.07(2).2018.04Public and Municipal Finance Volume 7, 2018 Issue #2 pp. 39-47
Views: 1562 Downloads: 153 TO CITE АНОТАЦІЯThe aim of this article is to seek especially the impact of corruption on the bond and stock market development. For the methodology/approach, the authors analyze a sample of 20 listed Tunisian firms from the Stock Exchange and Financial market, covering the period from 2006 to 2016 by using pooling cross section techniques. The results find a significant positive effect of the level of corruption on the stock market index and the logarithm of capitalization. This is consistent with the view that corruption accelerates the economic growth by speeding up transactions and allowing private companies to overcome the inefficiencies imposed by the government. Furthermore, the results find a negative association is not significant with the dependent variable of traded value as a percentage of the number of listed companies.