This paper examines how political corruption affects M&A activities. By exploiting the public enforcement of the anti-corruption … campaign across different regions in China, we find in a difference-in-difference (DID) setting that the reduction in … corruption increases cross-region takeover activities by 40% and deal volume more than doubles. Further analysis reveals that the …

We exploit the U.S. grant of Permanent Normal Trade Relations (PNTR) status to China as a quasi-policy shock to … corporate demand for targets with China-related business experience, and investigate how such a shock affects U.S. acquirers … U.S. acquirers by lowering operating expenses, purchasing more inputs from China, selling more outputs to China, and …

's passage, U.K. firms operating in high-corruption countries experience a drop in firm value, while their non-U.K. competitors …

We study the effects of corruption on firm efficiency using a unique dataset of private firms from 14 Central and … Eastern European countries from 2000 to 2013. We find that an environment characterized by a high level of corruption has an …. We also find that an environment characterized by considerable heterogeneity in the perception of corruption is …

We use China's recent anti-corruption campaign as a natural experiment to examine the (market expected) equilibrium … consequences of (anti-)corruption. We argue that the announcement of inspections of provincial governments by the Central … Commission for Discipline Inspection (CCDI) on May 17, 2013 represents a significant departure of past norms of anti-corruption …

We study how China's recent anti-corruption campaign affects local economies. Our identification is based on a … corruption, such as construction and infrastructure. Lands sold by local governments become 3.9% more expensive, mostly driven by … corruption …

Using price discounts government officials receive when buying new housing units as a measure of corruption in China …, we examine the effect of the anti-corruption campaign launched by the Xi Jinping administration in 2012. We find that the … the anti-corruption campaign is effective in curbing corruption …