ANTI-CORRUPTION LAWS AND THEIR INFLUENCE ON CORPORATE INVESTMENT DECISIONS

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Authors: Mbonigaba Celestin, Jerryson Ameworgbe Gidisu, M. Vasuki & A. Dinesh Kumar
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Abstract

We examine how anti-corruption legal frameworks influence corporate investment behavior within emerging institutional environments using the Legal Integrity Investment Model. The analysis uses the Corporate Investment and Anti-Corruption Regulation dataset covering listed corporations in Ghana during 2020 to 2024 and integrates governance indicators with firm level investment records. Empirical modeling links enforcement strength of anti-corruption laws, transparency and disclosure regulations, and corporate compliance requirements with corporate investment decisions while regulatory governance quality conditions the institutional effect. Results show that stronger legal enforcement, higher reporting transparency, and robust internal compliance systems correspond with increased capital allocation, greater foreign investment attraction, and stronger long term expansion activity. Governance quality strengthens these relationships by improving institutional credibility and investor trust. The model reveals that investment responses emerge from interacting governance signals rather than a single regulatory factor. This contribution advances institutional governance theory by explaining how legal integrity mechanisms shape corporate investment outcomes in emerging regulatory systems. The results provide guidance for policymakers and corporate leaders seeking credible governance environments that support stable investment growth and accountable corporate conduct.

Fields of Study & Subjects

Corruption and Economic Development Corporate Finance and Governance Governance Compliance and Sustainability

Publication details

Journal / source
Zenodo (CERN European Organization for Nuclear Research)
Publication date
13 March 2026
Language
EN