Abstract

This paper investigates the connection between money laundering risk and Chief Executive Officer (CEO) compensation in the Iranian stock market. For this goal, we construct a firm-level measure of money laundering risk using the opinion of certified auditors. Our findings documented a positive relationship between CEO compensation and money laundering risk. Furthermore, our results suggest that firms’ characteristics like size and independence of the firms' board can reduce the risk of money laundering.

Full Text
Published version (Free)

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call