Are oil and gas firms more likely to engage in unethical practices than other firms?

In this study we investigate the unethical practices undertaken by the oil and gas firms vis-a-vis other firms. We find that oil and gas firms operating in non-competitive industries are more likely to engage in unethical practices. The results are particularly strong in countries that rank poorly in legal enforcement, regulations and institutional framework, and import less oil. Policy makers should consider undertaking steps to encourage competition in the industry to limit unethical practices. Further, the country-level enforcement laws, regulations, and institutional quality need to be reformed, especially in developing countries, to discourage firms from gaining undue benefits.