The DOI matches its Crossref record; 36 of the 36 references it cites were found in a registry or an index.
THE IMPACT OF POLITICAL CONNECTIONS ON FIRMS’ OPERATING PERFORMANCE AND FINANCING DECISIONS
Abstract
We investigate the impact that the political connections of publicly traded firms have on their performance and financing decisions. Using a long‐term event study covering a sample of 234 politically connected firms headquartered in 12 developed and 11 developing countries from 1989 to 2003, we find that firms increase their performance and indebtedness after the establishment of a political connection. We also find that the political connection is more strongly associated with changes in leverage and operating performance for firms with closer ties to political power. Overall, our study confirms that politically connected firms gain easier access to credit and reap benefits in terms of performance from their ties with politicians.
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Cites
La Porta, R., Lopez‐de‐Silanes, F., Shleifer, A., & Vishny, R. W. (1998) · Journal of Political Economy · doi:10.1086/250042 · Cited by 18,025
The separation of ownership and control in East Asian Corporations
Claessens, S., Djankov, S., & Lang, L. H. P. (2000) · Journal of Financial Economics · doi:10.1016/s0304-405x(00)00067-2 · Cited by 5,754
Faccio, M. (2006) · American Economic Review · doi:10.1257/000282806776157704 · Cited by 4,059
The ultimate ownership of Western European corporations
Faccio, M., & Lang, L. H. P. (2002) · Journal of Financial Economics · doi:10.1016/s0304-405x(02)00146-0 · Cited by 3,795
Shleifer, A., & Vishny, R. W. (1994) · The Quarterly Journal of Economics · doi:10.2307/2118354 · Cited by 3,336
Estimating the Value of Political Connections
Fisman, R. (2001) · American Economic Review · doi:10.1257/aer.91.4.1095 · Cited by 2,968
Private credit in 129 countries☆
DJANKOV, S., MCLIESH, C., & SHLEIFER, A. (2007) · Journal of Financial Economics · doi:10.1016/j.jfineco.2006.03.004 · Cited by 2,795
FAN, J., WONG, T., & ZHANG, T. (2007) · Journal of Financial Economics · doi:10.1016/j.jfineco.2006.03.008 · Cited by 2,725
Political Connections and Corporate Bailouts
FACCIO, M., MASULIS, R. W., & McCONNELL, J. J. (2006) · The Journal of Finance · doi:10.1111/j.1540-6261.2006.01000.x · Cited by 2,561
Private Benefits of Control: An International Comparison
Dyck, A., & Zingales, L. (2004) · The Journal of Finance · doi:10.1111/j.1540-6261.2004.00642.x · Cited by 2,509
Cited by
Political institutions, connectedness, and corporate risk-taking
Boubakri, N., Mansi, S. A., & Saffar, W. (2013) · Journal of International Business Studies · doi:10.1057/jibs.2013.2 · Cited by 349
Self-citationBelitski, M., & Grigore, A.-M. (2022) · European Planning Studies · doi:10.1080/09654313.2021.1985436 · Cited by 10
Metadata
- Authors
- Boubakri, N., Cosset, J., & Saffar, W.
- Venue
- Journal of Financial Research
- Publisher
- Wiley
- Published
- 2012-09
- Volume
- 35
- Issue
- 3
- Pages
- 397-423
- ISSN
- 0270-2592 (ISSN-L)
- 1475-6803
- OpenAlex
- W3122571478
- Cited by
- 266
- References
- 36
- FWCI
- 22.96
- Type
- journal article
- Language
- en
- Open access
- closed
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- Boubakri, N., Cosset, J., & Saffar, W. (2012). THE IMPACT OF POLITICAL CONNECTIONS ON FIRMS’ OPERATING PERFORMANCE AND FINANCING DECISIONS. Journal of Financial Research. https://doi.org/10.1111/j.1475-6803.2012.01322.x
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