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- Publisher Website: 10.1086/651201
- Scopus: eid_2-s2.0-80051569245
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Article: Eat, drink, firms, government: An investigation of corruption from the entertainment and travel costs of chinese firms
Title | Eat, drink, firms, government: An investigation of corruption from the entertainment and travel costs of chinese firms |
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Authors | |
Issue Date | 2011 |
Citation | Journal of Law and Economics, 2011, v. 54, n. 1, p. 55-78 How to Cite? |
Abstract | We 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 Identifier | http://hdl.handle.net/10722/241899 |
ISSN | 2023 Impact Factor: 2.2 2023 SCImago Journal Rankings: 1.295 |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Cai, Hongbin | - |
dc.contributor.author | Fang, Hanming | - |
dc.contributor.author | Xu, Lixin Colin | - |
dc.date.accessioned | 2017-06-23T01:56:03Z | - |
dc.date.available | 2017-06-23T01:56:03Z | - |
dc.date.issued | 2011 | - |
dc.identifier.citation | Journal of Law and Economics, 2011, v. 54, n. 1, p. 55-78 | - |
dc.identifier.issn | 0022-2186 | - |
dc.identifier.uri | http://hdl.handle.net/10722/241899 | - |
dc.description.abstract | We 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.language | eng | - |
dc.relation.ispartof | Journal of Law and Economics | - |
dc.title | Eat, drink, firms, government: An investigation of corruption from the entertainment and travel costs of chinese firms | - |
dc.type | Article | - |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.1086/651201 | - |
dc.identifier.scopus | eid_2-s2.0-80051569245 | - |
dc.identifier.volume | 54 | - |
dc.identifier.issue | 1 | - |
dc.identifier.spage | 55 | - |
dc.identifier.epage | 78 | - |
dc.identifier.isi | WOS:000299113700003 | - |
dc.identifier.issnl | 0022-2186 | - |