To launder or not to launder: are there positive effects for the economies of countries who launder money?

June Buchanan*, Yun Shen

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

Abstract

This paper empirically examines the impact of corporate money laundering/gambling activities on firms’ financial performance. We specifically address whether Australian firms associated with money laundering suffer any short- or long-term financial performance effects following the public announcement of money laundering activities. Our findings suggest that Australian firms that engage in money laundering/gambling activities perform significantly better than firms in other countries after such announcements.

Original languageEnglish
Pages (from-to)2697-2716
Number of pages20
JournalAccounting & Finance
Volume61
Issue number2
Early online date23 Jul 2020
DOIs
Publication statusPublished - Jun 2021

Keywords

  • Announcements
  • Cumulative abnormal returns
  • International comparison
  • Money laundering

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