The DOI matches its Crossref record; 6 of the 6 references it cites were found in a registry or an index.
Political Connections and Corporate Bailouts
Open accessAbstract
We analyze the likelihood of government bailouts of 450 politically connected firms from 35 countries during 1997–2002. Politically connected firms are significantly more likely to be bailed out than similar nonconnected firms. Additionally, politically connected firms are disproportionately more likely to be bailed out when the International Monetary Fund or the World Bank provides financial assistance to the firm's home government. Further, among bailed‐out firms, those that are politically connected exhibit significantly worse financial performance than their nonconnected peers at the time of and following the bailout. This evidence suggests that, at least in some countries, political connections influence the allocation of capital through the mechanism of financial assistance when connected companies confront economic distress.
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Cites
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
The great reversals: the politics of financial development in the twentieth century
Rajan, R. G., & Zingales, L. (2003) · Journal of Financial Economics · doi:10.1016/s0304-405x(03)00125-9 · Cited by 3,327
Financial Development and Economic Growth: Views and Agenda
Levine, R. (1999) · Policy Research Working Papers · doi:10.1596/1813-9450-1678 · Cited by 2,977 · cited 1×
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BackgroundImproved Methods for Tests of Long‐Run Abnormal Stock Returns
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Institutions, ownership, and finance: the determinants of profit reinvestment among Chinese firms
CULL, R., & XU, L. (2005) · Journal of Financial Economics · doi:10.1016/j.jfineco.2004.05.010 · Cited by 1,023
Booty Capitalism: The Politics of Banking in the Philippines
Hutchcroft, P. D. (1998) · doi:10.7591/9781501738630 · Cited by 405
Cited by
Corporate Social Responsibility Reporting in China: Symbol or Substance?
Marquis, C., & Qian, C. (2014) · Organization Science · doi:10.1287/orsc.2013.0837 · Cited by 1,793
Corporate immunity to the COVID-19 pandemic
Ding, W., Levine, R., Lin, C., & Xie, W. (2021) · Journal of Financial Economics · doi:10.1016/j.jfineco.2021.03.005 · Cited by 1,484
Politically Connected Boards of Directors and The Allocation of Procurement Contracts
Goldman, E., Rocholl, J., & So, J. (2013) · Review of Finance · doi:10.1093/rof/rfs039 · Cited by 920
Political Connections and the Cost of Bank Loans
HOUSTON, J. F., JIANG, L., LIN, C., & MA, Y. (2014) · Journal of Accounting Research · doi:10.1111/1475-679x.12038 · Cited by 705
POLITICIANS AT WORK: THE PRIVATE RETURNS AND SOCIAL COSTS OF POLITICAL CONNECTIONS
Cingano, F., & Pinotti, P. (2013) · Journal of the European Economic Association · doi:10.1111/jeea.12001 · Cited by 561
Metadata
- Authors
- FACCIO, M., MASULIS, R. W., & McCONNELL, J. J.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2006-12
- Volume
- 61
- Issue
- 6
- Pages
- 2597-2635
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W3121335362
- Cited by
- 2,561
- References
- 6
- FWCI
- 102.65
- Type
- journal article
- Language
- en
- Open access
- green
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
