Modeling Regulatory and Competitive Business Environments' Influence on Tunneling Behavior

A comparative country analysis of regulatory and competitive business environments is generated using a synthesized multi-theoretical perspective combining agency, resource dependence, stakeholder, and institutional theories. The model posits that Indonesia, Philippines, China and India suffer from more tunneling behavior. Singapore and other well known economically developed countries such as Australia, UK and USA are more likely to mitigate tunneling behavior.

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