Causes of Bribery-Cases of China

• Main Authors: Li, GuoXing, 李國興
• Other Authors: Pei-Gi Shu
• Format: Others
• Language: zh-TW
• Published: 2017
• Online Access: http://ndltd.ncl.edu.tw/handle/ktt592

碩士 === 輔仁大學 === 企業管理學系管理學碩士班 === 105 === In this study we investigate the determinants of bribery, bribe-paying, and bribe-taking using the real cases collected from courtroom judgement to investigate the determinants of bribery for listed firms in China. The empirical results from ownership structure show that controlling owner’s cash flow rights are negatively correlated while his/her excess control is positively correlated with the odds of bribery. The existence and shareholdings of foreign institutional investors are both negatively correlated with the odds of lottery, indicating the monitoring function associated with foreign institutional investors. From board structure we find that the meeting frequency of supervisory boards is positively correlated with the odds of bribery, implying the malfunction and ineffectiveness associated with supervisory boards in Chinese listed firms.Finally, marketization index is positively correlated with the odds of bribery.However, after concerning the endogeneity issue associated with marketization and bribery, marketization index that is affected by the education level of the province that the underlying firm registers in is negatively correlated with the odds of bribery