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Value of corruption in China: Evidence from anti-corruption investigation

Daniel S. Kim, Yun Li and Domenico Tarzia

Economics Letters, 2018, vol. 164, issue C, 112-116

Abstract: Using recent anti-corruption investigation in China, we show that Chinese listed firms suffered an aggregate loss of USD 30 billion in firm value due to corruption. Furthermore, we show that anti-corruption investigation is more effective when top officials are targeted.

Keywords: Corruption; Anti-corruption investigation; Event study (search for similar items in EconPapers)
JEL-codes: D73 G14 G18 (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:eee:ecolet:v:164:y:2018:i:c:p:112-116