Foreign corporations and the culture of transparency: Evidence from Russian administrative data

• 成果类型: Article
• 署名作者: Braguinsky, Serguey; Mityakov, Sergey
• 署名单位: Carnegie Mellon University; Clemson University
• 刊物名称: JOURNAL OF FINANCIAL ECONOMICS
• ISSN/ISSBN: 0304-405X
• DOI: 10.1016/j.jfineco.2013.02.016
• 发表日期: 2015
• 页码: 139-164
• 关键词: culture; TRANSPARENCY; Foreign corporations; diffusion; Foreign direct investment

摘要

Firms from developed countries carry a culture of transparency in business transactions that is opposite to the culture of hiding and insider dealing in developing and transition economies. We employ Russian administrative data on reported earnings and market values of cars to measure wage misreporting for individual employees of domestic firms in Moscow. We show that closer ties to multinationals lead to improved transparency of wage reporting in private Russian companies. Employees located closest to movers from multinationals in the job quality space experience the largest gains in transparency. We find a robust correlation between wage misreporting and accounting fraud. (C) 2013 Elsevier B.V. All rights reserved.