Corruption exposure, political disconnection, and their impact on Chinese family firms

IF 2.9 3区 管理学 Q2 BUSINESS, FINANCE
Siwen Song , Aelee Jun , Shiguang Ma
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引用次数: 1

Abstract

This study adopts a quasi-natural experimental approach to examine the responses of Chinese family firms to political disconnection following exposure to corruption scandals. Our results are consistent with the view that family firms build political connections to achieve better performance, for access to external financing, and to secure more investment opportunities. We also find that the impact of political disconnection is more profound for firms located in provinces with a low level of marketisation, located in the same provinces as their related corrupt officials, and belonging to industries with high levels of corruption. Our results are robust after ruling out the impact of corruption cases per se as well as to alternative measurements of key variables and sample selection methods.

腐败曝光、政治脱节及其对中国家族企业的影响
本研究采用准自然实验方法,考察中国家族企业在腐败丑闻曝光后对政治脱节的反应。我们的研究结果与家族企业建立政治关系以获得更好的绩效、获得外部融资和获得更多投资机会的观点一致。我们还发现,对于位于市场化程度较低的省份、与相关腐败官员位于同一省份、属于腐败程度较高的行业的企业,政治脱节的影响更为深远。在排除腐败案件本身以及关键变量的替代测量和样本选择方法的影响后,我们的结果是稳健的。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
6.00
自引率
3.00%
发文量
24
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