- Title
- The impact of corruption on stock market performance : evidence from BRICS
- Creator
- Kapase, Siphe
- ThesisAdvisor
- Khumalo, S.A.
- ThesisAdvisor
- Phakathi, S.
- Subject
- Uncatalogued
- Date
- 2024-10-11
- Type
- Academic theses
- Type
- Master's theses
- Type
- text
- Identifier
- http://hdl.handle.net/10962/462724
- Identifier
- vital:76329
- Description
- This thesis examines the impact of corruption perception on stock market performance across BRICS nations from 2010 to 2022 using a primarily quantitative approach. Grounded in theoretical frameworks such as Corruption as Grease, Corruption as Sand, and New Institutional Economics, the study employs the Panel Autoregressive Distributed Lag (ARDL) model. It explores how corruption perceptions influence stock market capitalization (MCAP) over various time horizons. It utilizes empirical data and advanced techniques like unit root testing and cointegration tests to provide insights into short-term fluctuations and long-term trends in financial markets. The findings reveal significant long-term negative effects of the corruption perception index (CPI) on MCAP. Higher levels of perceived corruption correlate with lower stock market capitalization over extended periods, underscoring the persistent impact of institutional weaknesses on market stability. Short-term analyses show varying adjustment speeds towards equilibrium among BRICS nations, reflecting different economic contexts and policy responses to corruption. The findings suggest that investors should focus on markets with lower corruption perceptions for better stock market performance and advise policymakers to enhance transparency to build more resilient financial markets. Future research should continue to explore the impact of corruption on BRICS nations.
- Description
- Thesis (MCom) -- Faculty of Commerce, Economics and Economic History, 2024
- Format
- computer, online resource, application/pdf, 1 online resource (110 pages), pdf
- Publisher
- Rhodes University, Faculty of Commerce, Economics and Economic History
- Language
- English
- Rights
- Kapase, Siphe
- Rights
- Use of this resource is governed by the terms and conditions of the Creative Commons "Attribution-NonCommercial-ShareAlike" License (http://creativecommons.org/licenses/by-nc-sa/2.0/)
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| Thumbnail | File | Description | Size | Format | |||
|---|---|---|---|---|---|---|---|
| View Details | SOURCE1 | KAPASE-MCOM-TR24-112.pdf | 1 MB | Adobe Acrobat PDF | View Details |