Confucian merchants culture, social movement and entrepreneurs’ political participation: evidence from China
Author
Abstract
Suggested Citation
DOI: 10.1016/j.iref.2022.03.004
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Fan, Joseph P.H. & Wong, T.J. & Zhang, Tianyu, 2007. "Politically connected CEOs, corporate governance, and Post-IPO performance of China's newly partially privatized firms," Journal of Financial Economics, Elsevier, vol. 84(2), pages 330-357, May.
- Sihai Li & Xianzhong Song & Huiying Wu, 2015. "Political Connection, Ownership Structure, and Corporate Philanthropy in China: A Strategic-Political Perspective," Journal of Business Ethics, Springer, vol. 129(2), pages 399-411, June.
- Stulz, Rene M. & Williamson, Rohan, 2003.
"Culture, openness, and finance,"
Journal of Financial Economics, Elsevier, vol. 70(3), pages 313-349, December.
- Rene M. Stulz & Rohan Williamson, 2001. "Culture, Openness, and Finance," NBER Working Papers 8222, National Bureau of Economic Research, Inc.
- Kiridaran Kanagaretnam & Zongfeng Xiu & Zejiang Zhou, 2019. "Does Culture Matter for Corporate Philanthropic Giving?," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 55(10), pages 2365-2387, August.
- Sam Han & Tony Kang & Stephen Salter & Yong Keun Yoo, 2010. "A cross-country study on the effects of national culture on earnings management," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 41(1), pages 123-141, January.
- Hilary, Gilles & Hui, Kai Wai, 2009.
"Does religion matter in corporate decision making in America?,"
Journal of Financial Economics, Elsevier, vol. 93(3), pages 455-473, September.
- Gilles Hilary & Kai Wai Hui, 2009. "Does Religion Matter in Corporate Decision Making in America?," Post-Print hal-00481919, HAL.
- Oliver E. Williamson, 2000. "The New Institutional Economics: Taking Stock, Looking Ahead," Journal of Economic Literature, American Economic Association, vol. 38(3), pages 595-613, September.
- Xingqiang Du, 2017. "Religious Belief, Corporate Philanthropy, and Political Involvement of Entrepreneurs in Chinese Family Firms," Journal of Business Ethics, Springer, vol. 142(2), pages 385-406, May.
- Boubakri, Narjess & Cosset, Jean-Claude & Saffar, Walid, 2008. "Political connections of newly privatized firms," Journal of Corporate Finance, Elsevier, vol. 14(5), pages 654-673, December.
- Edward I. Altman, 1968. "The Prediction Of Corporate Bankruptcy: A Discriminant Analysis," Journal of Finance, American Finance Association, vol. 23(1), pages 193-194, March.
- Rodolphe Durand & Hayagreeva Rao & Philippe Monin, 2003. "Institutional Change in Toque Ville: Nouvelle Cuisine as an Identity Movement in French Gastronomy," Post-Print hal-00480858, HAL.
- Yi, Lee Mei & Ellis, Paul, 2000. "Insider-outsider perspectives of Guanxi," Business Horizons, Elsevier, vol. 43(1), pages 25-30.
- Greif, Avner, 1994. "Cultural Beliefs and the Organization of Society: A Historical and Theoretical Reflection on Collectivist and Individualist Societies," Journal of Political Economy, University of Chicago Press, vol. 102(5), pages 912-950, October.
- Yadong Luo & Ying Huang & Stephanie Lu Wang, 2012. "Guanxi and Organizational Performance: A Meta-Analysis," Management and Organization Review, The International Association for Chinese Management Research, vol. 8(1), pages 139-172, March.
- Nathan Nunn & Diego Puga, 2012.
"Ruggedness: The Blessing of Bad Geography in Africa,"
The Review of Economics and Statistics, MIT Press, vol. 94(1), pages 20-36, February.
- Puga, Diego & Nunn, Nathan, 2007. "Ruggedness: The Blessing of Bad Geography in Africa," CEPR Discussion Papers 6253, C.E.P.R. Discussion Papers.
- Nunn, Nathan & Puga, Diego, 2012. "Ruggedness: The Blessing of Bad Geography in Africa," Scholarly Articles 29412035, Harvard University Department of Economics.
- Nathan Nunn & Diego Puga, 2007. "Ruggedness: The blessing of bad geography in Africa," Working Papers 2007-09, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales, revised 01 May 2010.
- Nathan Nunn & Diego Puga, 2009. "Ruggedness: The Blessing of Bad Geography in Africa," NBER Working Papers 14918, National Bureau of Economic Research, Inc.
- Li, Hongbin & Meng, Lingsheng & Wang, Qian & Zhou, Li-An, 2008. "Political connections, financing and firm performance: Evidence from Chinese private firms," Journal of Development Economics, Elsevier, vol. 87(2), pages 283-299, October.
- An, Heng & Chen, Yanyan & Luo, Danglun & Zhang, Ting, 2016. "Political uncertainty and corporate investment: Evidence from China," Journal of Corporate Finance, Elsevier, vol. 36(C), pages 174-189.
- Luigi Guiso & Paola Sapienza & Luigi Zingales, 2006.
"Does Culture Affect Economic Outcomes?,"
Journal of Economic Perspectives, American Economic Association, vol. 20(2), pages 23-48, Spring.
- Paola Sapienza & Luigi Zingales & Luigi Guiso, 2006. "Does Culture Affect Economic Outcomes?," NBER Working Papers 11999, National Bureau of Economic Research, Inc.
- Zingales, Luigi & Guiso, Luigi & Sapienza, Paola, 2006. "Does Culture Affect Economic Outcomes?," Working Papers 208, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
- Guiso, Luigi & Zingales, Luigi & Sapienza, Paola, 2006. "Does Culture Affect Economic Outcomes?," CEPR Discussion Papers 5505, C.E.P.R. Discussion Papers.
- Panayiotis Georgallis, 2017. "The Link Between Social Movements and Corporate Social Initiatives: Toward a Multi-level Theory," Journal of Business Ethics, Springer, vol. 142(4), pages 735-751, June.
- Mara Faccio, 2006. "Politically Connected Firms," American Economic Review, American Economic Association, vol. 96(1), pages 369-386, March.
- Li, Stan Xiao & Yao, Xiaotao & Sue-Chan, Christina & Xi, Youmin, 2011. "Where Do Social Ties Come From: Institutional Framework and Governmental Tie Distribution among Chinese Managers," Management and Organization Review, Cambridge University Press, vol. 7(1), pages 97-124, March.
- Kung, James Kai-sing & Ma, Chicheng, 2014. "Can cultural norms reduce conflicts? Confucianism and peasant rebellions in Qing China," Journal of Development Economics, Elsevier, vol. 111(C), pages 132-149.
- Dennis Hwang & Patricia Golemon & Yan Chen & Teng-Shih Wang & Wen-Shai Hung, 2009. "Guanxi and Business Ethics in Confucian Society Today: An Empirical Case Study in Taiwan," Journal of Business Ethics, Springer, vol. 89(2), pages 235-250, October.
- Asim Ijaz Khwaja & Atif Mian, 2005. "Do Lenders Favor Politically Connected Firms? Rent Provision in an Emerging Financial Market," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 120(4), pages 1371-1411.
- Liang Shao & Chuck CY Kwok & Omrane Guedhami, 2010. "National culture and dividend policy," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 41(8), pages 1391-1414, October.
- Claessens, Stijn & Feijen, Erik & Laeven, Luc, 2008.
"Political connections and preferential access to finance: The role of campaign contributions,"
Journal of Financial Economics, Elsevier, vol. 88(3), pages 554-580, June.
- Claessens, Stijn & Laeven, Luc & Feijen, Erik, 2007. "Political Connections and Preferential Access to Finance: The Role of Campaign Contributions," CEPR Discussion Papers 6045, C.E.P.R. Discussion Papers.
- Peter Woods & David Lamond, 2011. "What Would Confucius Do? – Confucian Ethics and Self-Regulation in Management," Journal of Business Ethics, Springer, vol. 102(4), pages 669-683, September.
- Zhang, Junsen & Liu, Pak-Wai & Yung, Linda, 2007. "The Cultural Revolution and returns to schooling in China: Estimates based on twins," Journal of Development Economics, Elsevier, vol. 84(2), pages 631-639, November.
- Xingqiang Du, 2015. "Does Confucianism Reduce Minority Shareholder Expropriation? Evidence from China," Journal of Business Ethics, Springer, vol. 132(4), pages 661-716, December.
- Edward I. Altman, 1968. "Financial Ratios, Discriminant Analysis And The Prediction Of Corporate Bankruptcy," Journal of Finance, American Finance Association, vol. 23(4), pages 589-609, September.
- Larry M. Bartels & Henry E. Brady, 2003. "Economic Behavior in Political Context," American Economic Review, American Economic Association, vol. 93(2), pages 156-161, May.
- Xingqiang Du & Jianying Weng & Quan Zeng & Hongmei Pei, 2017. "Culture, Marketization, and Owner-Manager Agency Costs: A Case of Merchant Guild Culture in China," Journal of Business Ethics, Springer, vol. 143(2), pages 353-386, June.
- Joshua D. Coval & Tobias J. Moskowitz, 2001. "The Geography of Investment: Informed Trading and Asset Prices," Journal of Political Economy, University of Chicago Press, vol. 109(4), pages 811-841, August.
- Mark Grinblatt & Matti Keloharju, 2001. "How Distance, Language, and Culture Influence Stockholdings and Trades," Journal of Finance, American Finance Association, vol. 56(3), pages 1053-1073, June.
- Lin, Nan, 2011. "Capitalism in China: A Centrally Managed Capitalism (CMC) and Its Future," Management and Organization Review, Cambridge University Press, vol. 7(1), pages 63-96, March.
- Christo Pirinsky & Qinghai Wang, 2006. "Does Corporate Headquarters Location Matter for Stock Returns?," Journal of Finance, American Finance Association, vol. 61(4), pages 1991-2015, August.
- Hayagreeva Rao & Philippe Monin & Rodolphe Durand, 2003. "Institutional change in toque ville : Nouvelle cuisine as an identity movement in French gastronomy," Post-Print hal-02311672, HAL.
- Chang, Kiyoung & Noorbakhsh, Abbas, 2009. "Does national culture affect international corporate cash holdings?," Journal of Multinational Financial Management, Elsevier, vol. 19(5), pages 323-342, December.
- Randall S Schuler & Nikolai Rogovsky, 1998. "Understanding Compensation Practice Variations Across Firms: The Impact of National Culture," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 29(1), pages 159-177, March.
- Clarkson, Peter M. & Li, Yue & Richardson, Gordon D. & Vasvari, Florin P., 2008. "Revisiting the relation between environmental performance and environmental disclosure: An empirical analysis," Accounting, Organizations and Society, Elsevier, vol. 33(4-5), pages 303-327.
- Luo, Yadong & Huang, Ying & Wang, Stephanie Lu, 2012. "Guanxi and Organizational Performance: A Meta-Analysis," Management and Organization Review, Cambridge University Press, vol. 8(1), pages 139-172, March.
- Gennaro Bernile & Vineet Bhagwat & P. Raghavendra Rau, 2017. "What Doesn't Kill You Will Only Make You More Risk-Loving: Early-Life Disasters and CEO Behavior," Journal of Finance, American Finance Association, vol. 72(1), pages 167-206, February.
- Raymond Fisman, 2001. "Estimating the Value of Political Connections," American Economic Review, American Economic Association, vol. 91(4), pages 1095-1102, September.
- Chen, Carl R. & Li, Yingqi & Luo, Danglun & Zhang, Ting, 2017. "Helping hands or grabbing hands? An analysis of political connections and firm value," Journal of Banking & Finance, Elsevier, vol. 80(C), pages 71-89.
- Andy C W Chui & Alison E Lloyd & Chuck C Y Kwok, 2002. "The Determination of Capital Structure: Is National Culture a Missing Piece to the Puzzle?," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 33(1), pages 99-127, March.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Hou, Fei & Li, Meina & Xu, Yang & Zhou, Song, 2023. "Signing auditors’ cultural background and client investment efficiency," Finance Research Letters, Elsevier, vol. 51(C).
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Xiu, Zongfeng & Liu, Ran & Feng, Pengshuo & Yin, Jingwei, 2023. "Does social culture matter for firms' access to trade credit? Evidence from China," Economic Modelling, Elsevier, vol. 119(C).
- Polsiri, Piruna & Jiraporn, Pornsit, 2012. "Political connections, ownership structure, and financial institution failure," Journal of Multinational Financial Management, Elsevier, vol. 22(1), pages 39-53.
- Wang, Xiaoyu & Long, Zhineng & Zhao, Xiangfang, 2024. "Merchant guild culture and cash holdings: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 94(C).
- Jia, Ning & Mao, Xinshu & Yuan, Rongli, 2019. "Political connections and directors' and officers' liability insurance – Evidence from China," Journal of Corporate Finance, Elsevier, vol. 58(C), pages 353-372.
- Feng Liu & Hui Lin & Huiying Wu, 2018. "Political Connections and Firm Value in China: An Event Study," Journal of Business Ethics, Springer, vol. 152(2), pages 551-571, October.
- Kostas Pappas & Alice Liang Xu, 2023. "Do foreign lenders' national cultures affect loan pricing?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(2), pages 2006-2036, April.
- Lei Chen & Zhi Jin & Yongqiang Ma & Hui Xu, 2019. "Confucianism, openness to the West, and corporate investment efficiency," European Financial Management, European Financial Management Association, vol. 25(3), pages 554-590, June.
- Gu, Xiaolong & Xin, Yu & Xu, Liping, 2019. "Expected stock price crash risk and bank loan pricing: Evidence from China's listed firms," Pacific-Basin Finance Journal, Elsevier, vol. 57(C).
- Barraza, Santiago & Rossi, Martín A & Ruzzier, Christian A, 2022.
"Sleeping with the enemy: The perils of having the government on(the)board,"
Journal of Comparative Economics, Elsevier, vol. 50(3), pages 641-651.
- Santiago Barraza & Martín A. Rossi & Christian A. Ruzzier, 2021. "Sleeping with the Enemy: The Perils of Having the Government On(the)board," Working Papers 149, Universidad de San Andres, Departamento de Economia, revised Dec 2021.
- Shen, Chung-Hua & Lin, Chih-Yung & Wang, Yu-Chun, 2015. "Do strong corporate governance firms still require political connection, and vice versa?," International Review of Economics & Finance, Elsevier, vol. 39(C), pages 107-120.
- Nan Zhang & Qiaozhuan Liang & Huiying Li & Xiao Wang, 2022. "The organizational relationship–based political connection and debt financing: Evidence from Chinese private firms," Bulletin of Economic Research, Wiley Blackwell, vol. 74(1), pages 69-105, January.
- Chen, Yunsen & Huang, Jianqiao & Xiao, Sheng & Zhao, Ziye, 2020. "The “home bias” of corporate subsidiary locations," Journal of Corporate Finance, Elsevier, vol. 62(C).
- Emmanuelle Nys & Amine Tarazi & Irwan Trinugroho, 2013.
"Political Connections, Bank Deposits, and Formal Deposit Insurance: Evidence from an Emerging Economy,"
Working Papers
hal-00916513, HAL.
- Emmanuelle Nys & Amine Tarazi & Irwan Trinugroho, 2015. "Political Connections, Bank Deposits, and Formal Deposit Insurance: Evidence from an Emerging Economy," Post-Print hal-01134833, HAL.
- Li, Guoping & Zhou, Hong, 2015. "Political connections and access to IPO markets in China," China Economic Review, Elsevier, vol. 33(C), pages 76-93.
- Joni, Joni & Ahmed, Kamran & Hamilton, Jane, 2020. "Politically connected boards, family and business group affiliations, and cost of capital: Evidence from Indonesia," The British Accounting Review, Elsevier, vol. 52(3).
- Ayesha Shoukat, 2020. "Political Connection and Enterprise Development (A Case Study of Nishat Business Group)," Journal of Contemporary Research in Social Sciences, Michael Laurence, vol. 2(1), pages 8-25.
- Sharma, Piyush & Cheng, Louis T.W. & Leung, T.Y., 2020. "Impact of political connections on Chinese export firms' performance – Lessons for other emerging markets," Journal of Business Research, Elsevier, vol. 106(C), pages 24-34.
- Kong, Xiaoran & Zhang, Xueying & Yan, Cheng & Ho, Kung-Cheng, 2022. "China's historical imperial examination system and corporate social responsibility," Pacific-Basin Finance Journal, Elsevier, vol. 72(C).
- Cheng, Lei, 2018. "Estimating the value of political connections in China: Evidence from sudden deaths of politically connected independent directors," Journal of Comparative Economics, Elsevier, vol. 46(2), pages 495-514.
- Su, Zhong-qin & Fung, Hung-Gay & Huang, Deng-shi & Shen, Chung-Hua, 2014. "Cash dividends, expropriation, and political connections: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 29(C), pages 260-272.
More about this item
Keywords
Confucian merchants culture; Social movement; The cultural revolution experience; Entrepreneurs' political participation;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:reveco:v:80:y:2022:i:c:p:795-821. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/620165 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.