IDEAS home Printed from https://ideas.repec.org/a/eme/cfripp/cfri-07-2018-0114.html
   My bibliography  Save this article

The price of official-business collusion

Author

Listed:
  • Xiaohui Hou
  • Shuo Li

Abstract

Purpose - The purpose of this paper is to investigate whether the anti-corruption campaign, “Hunting the Tigers,” incurs a significant short-term loss of shareholders’ returns. Design/methodology/approach - A sophisticated event study approach is employed. Findings - The results show that the “Hunting the Tigers” has incurred a significant short-term loss of investment returns for shareholders in China’s main stock market board. In addition, the beginning of a new assault on China’s official mogul corruption in another round of political anti-corruption cycle after the 18th National Congress of the CPC has reduced this price significantly. Originality/value - This finding should be perceived as the price of the corruption of official-business collusion within capital markets in contemporary China.

Suggested Citation

  • Xiaohui Hou & Shuo Li, 2019. "The price of official-business collusion," China Finance Review International, Emerald Group Publishing Limited, vol. 10(1), pages 52-74, March.
    • Handle: RePEc:eme:cfripp:cfri-07-2018-0114
    DOI: 10.1108/CFRI-07-2018-0114
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1108/CFRI-07-2018-0114/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.emerald.com/insight/content/doi/10.1108/CFRI-07-2018-0114/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1108/CFRI-07-2018-0114?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Hui, Hon Chung, 2019. "What Do Foreign Exchange Markets Say About Election Outcomes? A Comparison Between Malaysia, Singapore and Philippines," MPRA Paper 98148, University Library of Munich, Germany.

    More about this item

    Keywords

    China; Event study; Anti-corruption; Official-business collusion; Stock market reaction; G14; D73;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:cfripp:cfri-07-2018-0114. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emerald Support (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.