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Officials’ Turnover, Facial Appearance and FDI: Evidence from China

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  • Yun Liu
  • Xianhang Qian
  • Qian Wu

Abstract

Using the data of turnover of Chinese city-level Party secretaries and mayors over the period 2001–2016, this paper explores the impact of officials’ turnover on foreign direct investment (FDI) inflows. We further measure the facial attractiveness score of the new official according to their official photographs and investigate the role of facial appearance of official. The results indicate that turnover of a Party secretary does not show a significant impact on FDI inflows, but in the year of a mayor’s turnover, there are fewer FDI inflows and the effect is greater when the new mayor has a lower level of facial appearance. Moreover, the impact of mayors’ turnover and facial appearance only exists in regions with lower investor protection.

Suggested Citation

  • Yun Liu & Xianhang Qian & Qian Wu, 2022. "Officials’ Turnover, Facial Appearance and FDI: Evidence from China," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 58(3), pages 896-906, February.
  • Handle: RePEc:mes:emfitr:v:58:y:2022:i:3:p:896-906
    DOI: 10.1080/1540496X.2021.1887728
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