Windfalls of emperors' sojourns: stock market reactions to Chinese firms hosting high-ranking government officials

• Main Authors: Schuler, Douglas A., Shi, Wei, Hoskisson, Robert E., Chen, Jonas Tao
• Other Authors: Nanyang Business School
• Format: Article
• Language: English
• Published: 2018
• Subjects: Hosting Site Visits of Government Officials; Corporate Political Activity
• Online Access: https://hdl.handle.net/10356/89465; http://hdl.handle.net/10220/44925
• Institution: Nanyang Technological University

We contribute to the corporate political activity (CPA) literature by showing that investors value companies that host visits of high ranking government officials (President and Premier). We argue that investors may value hosting firms for two reasons: (1) the signal received about possibility of fi...