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 …

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 …

evidence that incentive schemes affect real investment and sheds new light on challenges faced by economic reforms in China …

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

financial conditions. We exploit a quasi-experiment in China, the mandatory dividend of a state-owned business group in 2007, to …