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The effects of financial crime on firm performance: evidence from Norway

Stenerud, Madeleine; Høgalmen, Karoline
Master thesis
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URI
http://hdl.handle.net/11250/2622726
Date
2019
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  • Master of Science [1550]
Abstract
The purpose of this thesis is to investigate the effect of criminal activity, namely

corruption, on firm performance for Norwegian firms. We investigate whether the

announcement and conviction of corruption has affected the stock prices

negatively, by computing abnormal returns. In addition, we examine a longer-term

effect of corruption on firm performance measured by Return on Assets (ROA).

The stock price reactions reveal minor significant abnormal returns related to the

announcement of corruption, but show overall significant negative abnormal

returns related to the conviction. Furthermore, in our accounting-based method,

we also find evidence of a diminished firm performance of the corrupt companies

after the conviction. We conclude that financial crime does have an effect on firm

performance and identify the effect as negative.
Description
Masteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2019
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Handelshøyskolen BI

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