Regulatory Failure and the Collapse of Japan's Home Mortgage Lending Industry: A Legal and Economic Analysis
In: Law & policy, Band 22, S. 245-290
ISSN: 0265-8240
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In: Law & policy, Band 22, S. 245-290
ISSN: 0265-8240
In: The China quarterly, Band 256, S. 835-853
ISSN: 1468-2648
AbstractChinese state capitalism may be transitioning towards a technology-assisted variant that we call "surveillance state capitalism." The mechanism driving this development is China's corporate social credit system (CSCS) – a data-driven project to evaluate the "trustworthiness" of all business entities in the country. In this paper, we provide the first empirical analysis of CSCS scores in Zhejiang province, as the Zhejiang provincial government is to date the only local government to publish the scores of locally registered firms. We find that while the CSCS is ostensibly a means of measuring legal compliance, politically connected firms receive higher scores. This result is driven by a "social responsibility" category in the scoring system that valorizes awards from the government and contributions to causes sanctioned by the Chinese Communist Party. Our analysis underscores the potential of the CSCS to nudge corporate fealty to party-state policy and provides an early window into the far-reaching potential implications of the CSCS.
In: The China quarterly, Band 255, Heft 1, S. 835-853
ISSN: 1468-2648
Chinese state capitalism may be transitioning towards a technology-assisted variant that we call "surveillance state capitalism." The mechanism driving this development is China's corporate social credit system (CSCS) – a data-driven project to evaluate the "trustworthiness" of all business entities in the country. In this paper, we provide the first empirical analysis of CSCS scores in Zhejiang province, as the Zhejiang provincial government is to date the only local government to publish the scores of locally registered firms. We find that while the CSCS is ostensibly a means of measuring legal compliance, politically connected firms receive higher scores. This result is driven by a "social responsibility" category in the scoring system that valorizes awards from the government and contributions to causes sanctioned by the Chinese Communist Party. Our analysis underscores the potential of the CSCS to nudge corporate fealty to partystate policy and provides an early window into the far-reaching potential implications of the CSCS.(China Q / GIGA)
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In: European Corporate Governance Institute - Law Working Paper No. 610/2021
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In: European Corporate Governance Institute - Law Working Paper No. 493/2020
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Working paper
In: Harvard international law journal, Band 52, Heft 1, S. 219-285
ISSN: 0017-8063
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In: University casebook series
In: Harvard East Asian monographs 198
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In: Columbia Law and Economics Working Paper Forthcoming
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In: European Institute of Japanese Studies: East Asian Economics and Business Series, 8
Pt.1: Institutional change in theory and practice Pt.2: Japanese institutions : what has changed, what has not, and why
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