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China. We also find that corruption strongly reduces tax revenue. Looking at things from an expenditure point of view we … observe that corruption significantly decreases government spending on education, R&D and public health in China. We also …. -- Corruption ; China ; Government ; Economic Development ; Inequality ; Environment …
Persistent link: https://www.econbiz.de/10008729042
In this study we explore in detail the causes of corruption in China using two different sets of data at the regional … in China that is mainly driven by the transition to a market economy. -- Corruption ; China ; Government … level (provinces and cities). We observe that regions with more anti-corruption efforts, histories of British rule, higher …
Persistent link: https://www.econbiz.de/10008729064
a statistically significantly positive effect on the corruption rate in China. Our findings, therefore, underscore the … relevance of social interaction in understanding corruption. -- Corruption ; Social Interaction ; China … the incidence of corruption. We first present an interaction-based model on corruption that predicts that the level of …
Persistent link: https://www.econbiz.de/10008808080
We provide a theory of how growth, corruption, and a low-powered public-sector pay scale coexist in a stable … equilibrium in the early stage of China's development. The regionally decentralized authoritarian regime of China features lower …-powered public-sector pay scale in China. We propose a principal-agent model, where the principal represents the Chinese people …
Persistent link: https://www.econbiz.de/10011907238
We analyze a closely held corporation characterized by the absence of a resale market for shares and by potentially having several significant shareholders. The founder of the firm may optimally choose to distribute voting power to several large shareholders since this forces them to form...
Persistent link: https://www.econbiz.de/10012142222
We investigate the patterns of ultimate distribution of ownership in a sample of small closely held corporations. Motivated by recent corporate governance theories we define control dilution as the absenc of a single dominating shareholder. Most firms have one or two ultimate owners implying...
Persistent link: https://www.econbiz.de/10012142239
We analyze the impact of a 75 pct. Break-Through rule on 1,035 European firms with dual class shares. In 3-5 pct. of the firms the controlling owners incur a direct loss of control, whereas in additional 11-17 pct. of the firms the controlling owners are likely to incur a control loss. Firms in...
Persistent link: https://www.econbiz.de/10012142260
This paper uses a unique dataset from Denmark to investigate (1) the role of family characteristics in corporate decision making, and (2) the consequences of these decisions on firm performance. We focus on the decision to appoint either a family or an external chief executive officer (CEO). We...
Persistent link: https://www.econbiz.de/10012142315
Recent policy initiatives within the harmonization of European company laws have promoted a so-called "principle of proportionality" through proposals that regulate mechanisms opposing a proportional distribution of ownership and control. We scrutinize the foundation for these initiatives by...
Persistent link: https://www.econbiz.de/10012142316
We test under what circumstances boards discipline managers and whether such interventions improve performance. We exploit exogenous variation due to the staggered adoption of corporate governance laws in formerly Communist countries coupled with detailed ‘hard’ information about the...
Persistent link: https://www.econbiz.de/10008702077