“Moving Umbrella”: Bureaucratic transfers and the comovement of interregional investments in China

Shi, Xiangyu; Xi, Tianyang; Zhang, Xiaobo; Zhang, Yifan

doi:10.1016/j.jdeveco.2021.102717

Cited by 33 publications

(14 citation statements)

References 41 publications

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“…Despite the aforementioned benefits, there is also a dark side of CPCs for political actors. CPCs may expose connected politicians to a higher risk of anticorruption prosecution (Shi et al, 2021) and lower prospects of promotion (T. Chen & Kung, 2019).…”

Section: Outcomes Of Cpcs: the Political Actor Anglementioning

confidence: 99%

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Corporate Political Connections: A Multidisciplinary Review

Wei

Jia

Bonardi

2022

Journal of Management

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Corporate political connections (CPCs)—ties that firms forge with political actors—directly affect firms, political actors, and various stakeholders in societies. This topic has been studied extensively in multiple disciplines, including management, economics and finance, political science, and sociology. However, this body of research remains rather fragmented within the confines of each discipline or field, and synergies in theoretical and empirical domains remain underexploited. Differences between CPCs and other forms of corporate political activities are also often unclear. This article develops a focused, comprehensive, and theoretically deep review of the rapidly growing but disparate literature on CPCs in multiple disciplines and fields and distinguishes, compares, and connects multiple, heterogeneous theoretical perspectives that have been adopted in these different literatures. By conducting an extensive literature search of the articles published between 1990 and 2020 in 24 leading peer-reviewed journals in management, economics and finance, political science, and sociology, we build our review framework by organizing the reviewed articles into three groups of topics based on their logical connections: the conceptualization of CPCs, the antecedents of CPCs, and the outcomes of CPCs. Within each group, we distinguish two primary angles—the firm and the political actor—that correspond to the two entities joined by CPCs. On the basis of this framework, we identify major gaps and suggest avenues for future research. Our review works together with a companion review on corporate political activity, published in this same issue, to offer a wholistic perspective on the boundary between corporations and political actors.

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Section: Outcomes Of Cpcs: the Political Actor Anglementioning

confidence: 99%

“…Politicians’ career concerns may affect the duration of CPCs. Politicians keep connections with firms in order to make firms invest in the local economy and achieve their political performance (Shi, Xi, Zhang, & Zhang, 2021).…”

Section: Antecedents Of Cpcsmentioning

confidence: 99%

Corporate Political Connections: A Multidisciplinary Review

Wei

Jia

Bonardi

2022

Journal of Management

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“…Owing to tax avoidance, paid‐in capital tends to be less than the total assets of the company. However, we still believe that paid‐in capital can reflect investment behavior because the business law requires that the paid‐in capital of a company be proportional to the total assets before 2013 (Shi et al, 2021). Therefore, our estimates provide conservative and cautious conclusions.…”

Section: Data and Variable Constructionmentioning

confidence: 99%

How do environmental regulations influence resource misallocation in China? The role of investment flows

Wang

2022

Bus Strat Env

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In recent years, the Chinese government has implemented numerous regulations to address environmental deterioration. Several studies have examined the effect of environmental regulation policies on China's economic performance. However, whether environmental regulations can alleviate China's resource misallocation problem—a critical issue in transitional economies—remains unclear. This study fills this gap in the literature by employing the difference‐in‐differences method to examine how environmental regulations affect resource misallocation. We found that stringent environmental regulations have reduced the extent of resource misallocation in China, with resource reallocation being the driving force behind this improvement. The emission reduction mandate reduces investment inflows and hinders firms' entry into regions with low total factor productivity, while directing the flow of resources to highly productive areas.

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“…Some pieces of literature have demonstrated a view that local governments may have the bureaucracy of "moving umbrellas," attracting investment through land sales, and finally driving regional economic growth. (Shi et al, 2021), at the same time, the government can improve the regional environment by raising the pollutant discharge threshold (Ma et al, 2021). Therefore, the land transfer has also become an essential way for local governments to promote marketization and environmental governance.…”

Section: Introductionmentioning

confidence: 99%

Does the marketization of land transfer have an impact on carbon emissions? Evidence from China

Zhang

Yang

Huang

2022

Front. Environ. Sci.

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Excessive carbon emissions caused by extensive economic development are the key to the current government’s carbon emission reduction goals. In the process of market-oriented reform of land transfer, alleviating the contradiction between land use and low-carbon development is an essential problem in achieving the purpose of carbon peaking and carbon neutrality. The impact of land transfer marketization on regional economic development is complex, and the final effect on carbon emissions needs to be further examined. Based on China’s provincial panel data from 2008 to 2017, this paper uses a double fixed effect model to conduct an empirical analysis. The lag effect of the initial regression results is tested, and the quantitative test of the mediating effect and moderating effect of fixed asset investment is also carried out. The following conclusions are drawn: Firstly, the improvement of the marketization of land transfer will promote carbon emissions; secondly, the promotion effect of the degree of marketization of land transfer on carbon emissions will become inhibited with the delay of the lag effect years. Moreover, fixed asset investment will play a masking effect and an adjustment effect; thirdly, the impact of the degree of marketization of land transfer on carbon emissions is different in the eastern and western regions divided by the degree of marketization, and the strength of government control will also have a significant impact on the impact. The research results of this paper enrich the economic impact theory of land transfer marketization and have certain value for regional land policy management in the context of carbon emission reduction.

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“Moving Umbrella”: Bureaucratic transfers and the comovement of interregional investments in China

Cited by 33 publications

References 41 publications

Corporate Political Connections: A Multidisciplinary Review

Corporate Political Connections: A Multidisciplinary Review

How do environmental regulations influence resource misallocation in China? The role of investment flows

Does the marketization of land transfer have an impact on carbon emissions? Evidence from China

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