that firms linked to members of China's supreme political elites — the Politburo — obtained a price discount ranging from … promoted to positions of national leadership. To curb corruption, President Xi Jinping stepped up investigations and … reduction in corruption of between 50.1% and 43.6% in the provinces either targeted by the central inspection teams or whose …

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 …

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 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 …