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Raghavendra Rau

Raghavendra Rau

Working papers

Which Firms Benefit from Bribes, and By How Much? Evidence from Corruption Cases Worldwide

Published papers

Law and corporate governance
Tunneling, Propping and Expropriation: Evidence from connected party transactions in Hong Kong, JFE
Helping Hand or Grabbing Hand? Central Vs. Local Government Shareholders in Chinese Listed Firms , Review of Finance
Tunneling and propping up: An analysis of related party transactions by Chinese listed companies, PBFJ
Buy high, sell low: How listed firms price asset transfers in related party transactions, JBF
Expropriation, Unification and Corporate Governance in Italy, JCF.


Tunneling, Propping and Expropriation: Evidence from connected party transactions in Hong Kong
with Yan-Leung Cheung and Aris Stouraitis
City University of Hong Kong
Journal of Financial Economics, 82, 343-386, 2006.

In this paper, we examine "connected transactions" between Hong Kong listed companies and their controlling shareholders. We try to find out what types of connected transactions are likely to lead to expropriation of minority shareholders. Which firms are more likely to expropriate? Does the market anticipate the expropriation?