反腐败、政商关系转型与企业绩效

黄少卿; 潘思怡; 施浩

PDF
Cite
Share

facebook

twitter

google

linkedin

November 2021

Article Contents

Citation: Shaoqing HUANG, Siyi PAN and Hao SHI. Anti-Corruption, Transformation of Government-Business Relationships and Firm Performance[J]. Academic Monthly, 2018, 50(12): 25-40. shu

Anti-Corruption, Transformation of Government-Business Relationships and Firm Performance

Corresponding author: Shaoqing HUANG, sqhuang@sjtu.edu.cn

Abstract

The anti-corruption campaign of the 18th National Congress of the Communist Party of China (CPC) significantly changes firms' political connections. In this study, we empirically examine how this transformation of government-business relationships affects firm performance. We find that firms' expense for building up political connections has negative impact on their performance. The Anti-corruption campaign has destroyed the old pattern of government-business relationships, and created a fair competitive environment. The performance gap among firms with different level of political connections has been narrowed, because firms with higher level of political connection has made better use of their available resources, especially for the private listed firms. In addition, we find that the anti-corruption campaign has significant negative impact on the performance of all firms, probably indicating the phenomenon of government officials' sloth administration after the anti-corruption campaign. Last, we find that firms have significantly increased their R&D expenses after the anti-corruption campaign; but there is no significant evidence that the increased R&D has improved firm performance.
- political connections,
- anti-corruption,
- firm performance,
- R & D,
- new pattern of government-business relationships
References
Access
1. [1]
  Shaoqing HUANG , Yi WANG , Li ZHAO . Administrative Examination and Approval Reform, Rule of Law and Enterprises’ Innovation Performance. Academic Monthly, 2020, 52(6): 57-70.
2. [2]
  Bingquan WANG . On the Relationship between Political Philosophy and Political Science. Academic Monthly, 2022, 54(12): 71-80.
3. [3]
  . . Academic Monthly, 2017, 49(01): 42-56.
4. [4]
  Chengyan ZHU , Jian’guo CHU . The Coordination between Central and Local Governments and the Transition of the Vertical Political System in Contemporary China. Academic Monthly, 2019, 51(4): 73-83.
5. [5]
  . Conflicting or Reconciling: An Analysis of the Relationship between Deliberative Democracy and Political RepresentationDuan Demin. Academic Monthly, 2018, 50(03): 115-124.
6. [6]
  Pingfang ZHU , Ruoqing XIE , Panpan LIU . A Study on the Relationship between Maximum Power Load and Economic Variables. Academic Monthly, 2020, 52(2): 44-57.
7. [7]
  Wei MAO . Economic Performance of Institutional Change. Academic Monthly, 2020, 52(5): 62-71.
8. [8]
  Xiaojiang ZHU . The Stylistic Features, Functions of Fictions and Their Relationship with May 4th Literary Reform. Academic Monthly, 2021, 53(3): 160-169.
9. [9]
  Anning HU . Substantive Approval and Schematic Association: The Sociological Analysis of the Working Mechanism of Culture. Academic Monthly, 2022, 54(11): 134-147.
10. [10]
  TAO Qing . . Academic Monthly, 2018, 50(8): 69-79.
11. [11]
  Shi’e ZHU , Rudai YANG , Bi WU . New Rural Society Endowment Insurance Program and Household Consumption. Academic Monthly, 2019, 51(11): 60-69.
12. [12]
  , , . . Academic Monthly, 2016, 48(07): 89-98.
13. [13]
  . . Academic Monthly, 2017, 49(01): 11-27.
14. [14]
  , , . The Mystery of Middle-and-Small Scaled Private Zombie Firms. Academic Monthly, 2018, 50(03): 75-86.
15. [15]
  Yuan LIU , Pei LU . Study on the Cooperative Movement and the Agricultural Productivity in New China. Academic Monthly, 2019, 51(3): 56-69.
16. [16]
  Yonghua LIU , Yufan SUN . The Structure of Relational Presentism. Academic Monthly, 2023, 55(3): 126-139.
17. [17]
  Zhiyang LIU , Lufeng WANG . The Emergence Logic of Social Enterprise in China. Academic Monthly, 2019, 51(10): 82-91.
18. [18]
  Tie LYU , Zaichi LI . Digital Transformation in Manufacturing SMEs. Academic Monthly, 2022, 54(10): 59-69.
19. [19]
  Haiting ZHENG . The Politics of Details: An Analysis of Schizo. Academic Monthly, 2021, 53(2): 160-169.
20. [20]
  Jie CHEN . The Rumor Politics and Cultural Operation. Academic Monthly, 2020, 52(4): 169-184.

Figures(2) / Tables(9)

Get Citation

PDF

XML

Entire Issue PDF

Article Metrics

Article views: 2599 Times PDF downloads: 11 Times Cited by: 0 Times

Metrics

PDF Downloads(11)
Abstract views(2599)
HTML views(280)

Latest
Most Read
Most Cited

通讯作者: 陈斌, bchen63@163.com

1.
沈阳化工大学材料科学与工程学院沈阳 110142

Anti-Corruption, Transformation of Government-Business Relationships and Firm Performance

Corresponding author: Shaoqing HUANG, sqhuang@sjtu.edu.cn

Available Online: 2018-12-01

Abstract: The anti-corruption campaign of the 18th National Congress of the Communist Party of China (CPC) significantly changes firms' political connections. In this study, we empirically examine how this transformation of government-business relationships affects firm performance. We find that firms' expense for building up political connections has negative impact on their performance. The Anti-corruption campaign has destroyed the old pattern of government-business relationships, and created a fair competitive environment. The performance gap among firms with different level of political connections has been narrowed, because firms with higher level of political connection has made better use of their available resources, especially for the private listed firms. In addition, we find that the anti-corruption campaign has significant negative impact on the performance of all firms, probably indicating the phenomenon of government officials' sloth administration after the anti-corruption campaign. Last, we find that firms have significantly increased their R&D expenses after the anti-corruption campaign; but there is no significant evidence that the increased R&D has improved firm performance.