Date: Wednesday, June 22nd, 9:00—10:30
Location:D207, Tong BO Building, Liu Lin Campus
The public lecture
Professor: Bin Ke
National University of Singapore
We examine the impact of Chinese President Xi Jinping’s anti-corruptioncampaign on shareholder value of publicly listed Chinese firms. We find that the anticorruptioncampaign reduces the profitability of the firms that sell luxury goods and services.The anti-corruption campaign helps reduce excessive perk consumption by luxury goods andservices consuming SOEs but, as predicted, we find no evidence that the campaign affectsexcessive perk consumption by luxury goods and services consuming non-SOEs. However, wefind no evidence that the campaign had a positive or negative impact on net shareholder valuefor luxury goods and services consuming SOEs and non-SOEs.
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