Does the judiciary system in China favor politically connected firms?

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Does the judiciary system in China favor politically connected firms?

 

Author: Yu, Kwok Chi
Title: Does the judiciary system in China favor politically connected firms?
Degree: M.Sc.
Year: 2012
Subject: Going public (Securities) -- Law and legislation -- China.
Corporations -- Finance -- Law and legislation -- China.
Hong Kong Polytechnic University -- Dissertations
Department: Graduate School of Business
Pages: 93 leaves ; 30 cm.
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b2531566
URI: http://theses.lib.polyu.edu.hk/handle/200/6766
Abstract: The recent financial crisis has called into question the effectiveness of the Western trajectory of economic development. On the contrary, China, the newly industrialized country that did not have a Property Law until 2007, has managed to sustain the 10% GDP growth it had planned. China's road of development may well serve as an inspiration for other newly industrialized economies (NIEs). Since then, a lot of scholars have developed an interest in exploring the relationship between China's political and legal system and the logical economic units (individuals and firms). However, the lack of information transparency and the deficient record-keeping system in the country has posed significant obstacles to academics. Therefore, very limited research has been done in this area for the past decades. In 1998, both Shanghai and Shenzhen Stock Exchange promulgated their listing rule requiring the mandatory disclosure of litigations. From the above resource, this research paper gained access to information on litigation involving listed companies. By face observation on the importance of "guanxi" in China, firms with political connection seem to have an advantage in litigation. This paper aims to confirm (or reject) this observation by testing whether political connections lead to judicial bias in the litigation process in China.

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