The purpose of this paper is to analyze in detail the characteristics of bribe-taking by provincial and ministerial or senior-level officials.In this paper,we analyze the data concerning all provincial and ministerial...The purpose of this paper is to analyze in detail the characteristics of bribe-taking by provincial and ministerial or senior-level officials.In this paper,we analyze the data concerning all provincial and ministerial level officials convicted of bribe-taking apart from army generals.We identify 110 cases between 1987 and the end of 2015,of which 76 cases involved bribery alone and the rest also involved other crimes.The achievements of China’s economic reforms and opening-up over the last 40 years are obvious to all,but they have encouraged significant problems of corruption by senior party and government officials.Between 1987 and 2015 the number of officials convicted of corruption grew significantly and,sentences became more severe.Since 1987,the amount of bribery has increased steadily and the time span of corruption has increased.Corrupt officials mostly use traditional kinds of exchange of interests,and corruption in China has spread into every part of society.China still has a long way to go if it is to win the fight against corruption.展开更多
In spite of the extensive literature regarding the relationship between corporate internationalization and performance, questions still remain due to conflicting empirical results. Is this due to the diversity of the ...In spite of the extensive literature regarding the relationship between corporate internationalization and performance, questions still remain due to conflicting empirical results. Is this due to the diversity of the conceptualization of international profile？ The results of statistical non-parametric tests obtained from a sample of 68 Euronext 100 companies over the period 2005-2009 point to a different relationship, between internationalization and performance, depending on whether the extent of international activities or their dispersion is considered.展开更多
This study revisits the question of“whether firms are doing well by doing good?”.We examine shareholders-sponsored corporate socially responsible(CSR)proposals related to Environmental,Social,and Governance(ESG)that...This study revisits the question of“whether firms are doing well by doing good?”.We examine shareholders-sponsored corporate socially responsible(CSR)proposals related to Environmental,Social,and Governance(ESG)that are voted to pass or fail by a small margin.The adoption of those“close call”proposals is regarded as equivalent to a random assignment of CSR policies and,therefore,provides a quasi-experimental setting to capture the causal influence of CSR on firm performance.We apply the regression discontinuity design(RDD)and find that CSR proposals’passage leads to a significant positive abnormal return on the voting day.The results are robust with both parametric and nonparametric approaches of RDD and different polynomial orders.However,we fail to identify a significant change in financial performance in the long-term.One possible reason is that passing a CSR proposal could be symbolic,rather than substantial.展开更多
文摘The purpose of this paper is to analyze in detail the characteristics of bribe-taking by provincial and ministerial or senior-level officials.In this paper,we analyze the data concerning all provincial and ministerial level officials convicted of bribe-taking apart from army generals.We identify 110 cases between 1987 and the end of 2015,of which 76 cases involved bribery alone and the rest also involved other crimes.The achievements of China’s economic reforms and opening-up over the last 40 years are obvious to all,but they have encouraged significant problems of corruption by senior party and government officials.Between 1987 and 2015 the number of officials convicted of corruption grew significantly and,sentences became more severe.Since 1987,the amount of bribery has increased steadily and the time span of corruption has increased.Corrupt officials mostly use traditional kinds of exchange of interests,and corruption in China has spread into every part of society.China still has a long way to go if it is to win the fight against corruption.
文摘In spite of the extensive literature regarding the relationship between corporate internationalization and performance, questions still remain due to conflicting empirical results. Is this due to the diversity of the conceptualization of international profile？ The results of statistical non-parametric tests obtained from a sample of 68 Euronext 100 companies over the period 2005-2009 point to a different relationship, between internationalization and performance, depending on whether the extent of international activities or their dispersion is considered.
文摘This study revisits the question of“whether firms are doing well by doing good?”.We examine shareholders-sponsored corporate socially responsible(CSR)proposals related to Environmental,Social,and Governance(ESG)that are voted to pass or fail by a small margin.The adoption of those“close call”proposals is regarded as equivalent to a random assignment of CSR policies and,therefore,provides a quasi-experimental setting to capture the causal influence of CSR on firm performance.We apply the regression discontinuity design(RDD)and find that CSR proposals’passage leads to a significant positive abnormal return on the voting day.The results are robust with both parametric and nonparametric approaches of RDD and different polynomial orders.However,we fail to identify a significant change in financial performance in the long-term.One possible reason is that passing a CSR proposal could be symbolic,rather than substantial.
