Abstract
This paper is a bibliometric review of 819 articles, between 1969 and 2019, on corruption in banks. We identified six research streams: (1) the determinants of banks’ lending corruption; (2) the impact of corruption on banks’ lending and operational risk; (3) the impact of bank corruption on firms; (4) the impact of political connections on bank corruption; (5) the impact of corporate governance and regulations on bank corruption; and (6) the manipulation of the inter-bank offered rate. We recommend an anti-corruption architecture system and an extension in theoretical frameworks related to corruption in banks. We propose 20 future research questions.
Highlights
Corruption exists despite efforts by national and international controlling bodies
It would seem that the phenomenon of corruption is a critical management issue in banks, which is overlooked by management and business journal
From what we have shown in our citation network among journals in Fig. 2, citing articles largely from top finance journals and neglecting less prominent journals may lead to citation bias
Summary
Corruption exists despite efforts by national and international controlling bodies (including central banks, agencies, OECD conventions, and the IMF). According to Global Witness Organization corrupt businesspeople, government officials, dictators, warlords, and other criminals always need a bank to hide and lander their looted money. A considerable amount of literature has been compiled on corruption related to banks or financial institutions over the last 50 years (see Fig. 1). This literature is scattered across numerous areas and types of corruption (see Table 1 for synonyms of corruption) and needs to be analyzed through a systematic, in-depth, and quali-quantitative fashion
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