Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/14571
Title: Normalized collective corruption in a transitional economy : small treasuries in large Chinese enterprises
Authors: Hung, H 
Keywords: Corruption
Guanxi
Small treasuries
Issue Date: 2008
Publisher: Springer
Source: Journal of business ethics, 2008, v. 79, no. 1-2, p. 69-83 How to cite?
Journal: Journal of business ethics 
Abstract: Small treasuries (xiaojinku) are off-book accounts found in many large enterprises in China for the purpose of rewarding managers and their subordinates, building up guanxi (personal networks), and even financing the business operations of their danwei (work units). We analyze CESTs with reference to their antecedents, constructs, and consequences. Our analysis indicates that while CESTs can, in some cases, help organizations deal with immediate financial problems, they have negative impacts on organizational performance in relation to the moral hazard of managers, as well as the allocation of organizational resources, in respect of sustainability of strategic advantages and growth, and mismanagement of organizations. Because of the involutionary behavior of managers in Chinese enterprises, we propose that it will require not only organizational controls, but also a fundamental change in these managers' ideology for solving the problems of CESTs.
URI: http://hdl.handle.net/10397/14571
ISSN: 0167-4544
EISSN: 1573-0697
DOI: 10.1007/s10551-007-9396-2
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