TY  - JOUR
AB  - Purpose The purpose of this paper is to investigate whether the anti-corruption campaign, “Hunting the Tigers,” incurs a significant short-term loss of shareholders’ returns.Design/methodology/approach A sophisticated event study approach is employed.Findings The results show that the “Hunting the Tigers” has incurred a significant short-term loss of investment returns for shareholders in China’s main stock market board. In addition, the beginning of a new assault on China’s official mogul corruption in another round of political anti-corruption cycle after the 18th National Congress of the CPC has reduced this price significantly.Originality/value This finding should be perceived as the price of the corruption of official-business collusion within capital markets in contemporary China.
VL  - 10
IS  - 1
SN  - 2044-1398
DO  - 10.1108/CFRI-07-2018-0114
UR  - https://doi.org/10.1108/CFRI-07-2018-0114
AU  - Hou Xiaohui
AU  - Li Shuo
PY  - 2019
Y1  - 2019/01/01
TI  - The price of official-business collusion: Evidence from the stock market reaction to “Hunting the Tigers” in China
T2  - China Finance Review International
PB  - Emerald Publishing Limited
SP  - 52
EP  - 74
Y2  - 2024/05/07
ER  -