The link between institutional quality, ethical behaviors of firms, and market regulations on stock market developments

Kuzey C., Uyar A., Hamrouni A., Kilic M., Boussaada R.

Managerial and Decision Economics, cilt.42, sa.4, ss.998-1021, 2021 (SSCI, Scopus) identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 42 Sayı: 4
  • Basım Tarihi: 2021
  • Doi Numarası: 10.1002/mde.3288
  • Dergi Adı: Managerial and Decision Economics
  • Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus, International Bibliography of Social Sciences, Periodicals Index Online, ABI/INFORM, Aerospace Database, Business Source Elite, Business Source Premier, Communication Abstracts, EconLit, Metadex, Psycinfo, Public Affairs Index, Civil Engineering Abstracts
  • Sayfa Sayıları: ss.998-1021
  • Samsun Üniversitesi Adresli: Evet

Özet

This study explores the link between institutional quality, ethical behaviors of firms, and market regulations on stock market developments. The dynamic panel regression analysis and moderation analysis with single-threshold modeling approaches were exploited to test the hypotheses. The results show that overall institutional quality with its six indicators are significant predictors of stock market development taking into account that they have varying influence on different stock market development proxy. Moreover, moderation analysis showed that the ethical behavior of firms and market regulations mostly acts as a substitute and sometimes acts as a complement for institutional quality in stock market development.