Corruption and firm performance: An empirical study on the impact of bribe payments on the performance of Chinese firms
Corruption is often compared to a double-edged sword. While acting as a “necessary evil” to avoid bureaucratic inefficiencies such as red tape to grease the wheels of commerce, there are many other studies expressing their concerns regarding the negative effects corruption has on growth. Based on previous empirical evidence and theories such as the “rent-seeking” theory that conceptualize the rela