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Article: Eat, drink, firms, government: An investigation of corruption from the entertainment and travel costs of chinese firms

TitleEat, drink, firms, government: An investigation of corruption from the entertainment and travel costs of chinese firms
Authors
Issue Date2011
Citation
Journal of Law and Economics, 2011, v. 54, n. 1, p. 55-78 How to Cite?
AbstractWe propose entertainment and travel costs (ETC) expenditures as a measure of corruption in Chinese firms. These expenses are publicly reported in firms' accounting books, and on average they amount to about 3 percent of a firm's total value added. We find that ETC is a mix that includes grease money to obtain better government services, protection money to lower tax rates, managerial excesses, and normal business expenditures to build relational capital with suppliers and clients. Entertainment and travel costs overall have a significantly negative effect on firm productivity, but we also find that some components of ETC have substantial positive returns to firms. © 2011 by The University of Chicago. All rights reserved.
Persistent Identifierhttp://hdl.handle.net/10722/241899
ISSN
2017 Impact Factor: 1.032
2015 SCImago Journal Rankings: 1.175
ISI Accession Number ID

 

DC FieldValueLanguage
dc.contributor.authorCai, Hongbin-
dc.contributor.authorFang, Hanming-
dc.contributor.authorXu, Lixin Colin-
dc.date.accessioned2017-06-23T01:56:03Z-
dc.date.available2017-06-23T01:56:03Z-
dc.date.issued2011-
dc.identifier.citationJournal of Law and Economics, 2011, v. 54, n. 1, p. 55-78-
dc.identifier.issn0022-2186-
dc.identifier.urihttp://hdl.handle.net/10722/241899-
dc.description.abstractWe propose entertainment and travel costs (ETC) expenditures as a measure of corruption in Chinese firms. These expenses are publicly reported in firms' accounting books, and on average they amount to about 3 percent of a firm's total value added. We find that ETC is a mix that includes grease money to obtain better government services, protection money to lower tax rates, managerial excesses, and normal business expenditures to build relational capital with suppliers and clients. Entertainment and travel costs overall have a significantly negative effect on firm productivity, but we also find that some components of ETC have substantial positive returns to firms. © 2011 by The University of Chicago. All rights reserved.-
dc.languageeng-
dc.relation.ispartofJournal of Law and Economics-
dc.titleEat, drink, firms, government: An investigation of corruption from the entertainment and travel costs of chinese firms-
dc.typeArticle-
dc.description.natureLink_to_subscribed_fulltext-
dc.identifier.doi10.1086/651201-
dc.identifier.scopuseid_2-s2.0-80051569245-
dc.identifier.volume54-
dc.identifier.issue1-
dc.identifier.spage55-
dc.identifier.epage78-
dc.identifier.isiWOS:000299113700003-

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