Inglis, Desmond Prosser

Mucking out the Jockey Club
We look at the structural incentive for corruption in membership admission to HKJC, and its small-circle voting system, highlighted by yesterday's arrest of 3 of the 200 Voting Members. If private clubs wish to avoid the reputational risk of corruption, then they should adopt tender-based admission systems to remove the incentive and capture full value for their members. (18-Nov-2010)

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