  Corruption, fraud, and unethical activities have emerged as significant
obstacles to global economic, political, and social progress. Although many
empirical studies have focused on country-level corruption metrics, this study
is the first to utilize a substantial international dataset to assess the
effects of illicit and unethical managerial practices on firm performance.
Employing cross-sectional data, this research examines the influence of
corruption on corporate outcomes. Our definition of corruption evaluates the
degree to which managers engage in mismanagement, misconduct, or corrupt
activities. The repercussions for corporate governance, especially concerning
the process of appointing managers, are both crucial and strategic.
