Education-plus December 2020 | 超越教育 2020年12月

These discoveries, among others, were made by a research team comprising the President of EdUHK, Professor Stephen Cheung Yan- leung, Professor Raghavendra Rau of Cambridge Judge Business School at the University of Cambridge, and Professor Aris Stouraitis of Hong Kong Baptist University. A different approach The aim of the research was to test long-established and well- documented theories about the returns companies make through bribing government officials. “As bribery is illegal, there’s no data to compare firms who engage in this activity and those who don’t,” explains Professor Cheung. Consequently, most academic literature focuses on what makes companies resort to bribery and the impact it has on a country’s economic development. “We decided to take a different approach. We wanted to see where a firm had bribed and what return it received, to give some explanation as to why firms risk being caught,” Professor Cheung explains. 這項研究由香港教育大學校長張仁良教授、劍橋大學 賈吉商學院Raghavendra Rau教授,以及香港浸會 大學Aris Stouraitis教授聯合進行,以上是研究發現 的一部分。 不一樣的研究方法 關於企業賄賂官員後所得回報的理論確立已久,且 有大量文獻論及,是次研究旨在驗證這些「回報理 論」。張教授解釋:「由於行賄屬違法行為,故沒有數 據比較參與賄賂和沒有參與賄賂的企業。」因此,大 多數學術文獻皆聚焦於研究企業訴諸賄賂的原因,以 及此舉對國家經濟發展的影響。 張教授說:「我們決定採取不一樣的方法,研究企業 進行賄賂的地方和可以獲得的回報,從而解釋他們為 何甘願為此冒上被捕的風險。」 行賄何價? Is bribery worth the risk? Every $1 handed out in bribes can result in a $6-$9 increase in a firm’s value, relative to the overall stock market. However, those benefits decrease in places where citizens are well-informed. 最近一項研究發現,企業每花一美元進行賄賂,其在股票市場的價值就可增加六至 九美元。但若賄賂發生在透明度高和訊息流通的國家,企業所得的收益便較少。