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“Lost Shields: The Impact of Anti-Corruption Campaign on Corporate Litigation in China” by Siyun Jiang

April 20, 2022 @ 9:00 am 10:00 am JST

Registration required!

Authors: Siyun Jiang (Texas)

Abstract: Scholars consider political connection a “helping hand” for private firms in China to prevent expropriation and level the playing field with their state-owned rivals. Losing political connection thus can put private firms in a more disadvantaged position. This paper examines the impact of China’ anti-corruption campaign on politically connected firms’ litigation outcomes. Using a unique data-set of 11,913 corporate litigation filed by 1,640 listed firms between 2008 and 2020, it finds that removals of local political-legal officials reduced the winning odds of private firms with connection to local governments, while the campaign had little negative impact on connected SOEs’ winning chance. It suggests that the anti-corruption campaign may contribute to the resurgence of the influence of state-owned economy in China.

Discussants: Fabio Angiolillo (HKU), Zeren Li (Yale), Harunobu Saijo (Duke).

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