Li, Jingjing; Zhao, Liming - In: China journal of accounting research : CJAR 8 (2015) 1, pp. 25-39
spends on socializing with government officials. We examine the validity of this measure using the exogenous turnover of top … local officials and find that firms increase their political networking expenditures when top local officials are replaced … officials, which implies that non-SOEs have stronger incentives to build political connections with officials through social …