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We propose "Entertainment and Travel Costs" (ETC) expenditures as a measure of corruption in Chinese firms. These expenses are publicly reported in firms' accounting books, and on average they amount to about 3% of firms' total value added. We find that ETC is a mix that includes "grease money"...
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Around the turn of the century, China experienced perhaps the largest labour restructuring program in the world. This …
Persistent link: https://www.econbiz.de/10012562537
Entertainment and Travel Costs (ETC) is a standard expenditure item for Chinese firms with an annual amount equal to about 20 percent of total wage bills. We use this objective accounting measure as a basis to analyze the composition of ETC and the effect of ETC on firm performance. We rely on...
Persistent link: https://www.econbiz.de/10013243654
Around the turn of the century, China experienced perhaps the largest labor restructuring program in the world. This …
Persistent link: https://www.econbiz.de/10012721131
Entertainment and Travel Costs (ETC) is a standard expenditure item for Chinese firms with an annual amount equal to about 20 percent of total wage bills. We use this objective accounting measure as a basis to analyze the composition of ETC and the effect of ETC on firm performance. We rely on...
Persistent link: https://www.econbiz.de/10012467085
This paper uses a new data set of Chinese state-owned enterprises (SOEs) and private firms to evaluate the effects of labor downsizing on firms' technical efficiency, financial performance, and employee wages. Since downsizers and non-downsizers differ greatly in firm characteristics, we use...
Persistent link: https://www.econbiz.de/10014063362