The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
Betting on Hitler—The Value of Political Connections in Nazi Germany*
Abstract
This paper examines the value of connections between German industry and the Nazi movement in early 1933. Drawing on previously unused contemporary sources about management and supervisory board composition and stock returns, we find that one out of seven firms, and a large proportion of the biggest companies, had substantive links with the National Socialist German Workers' Party. Firms supporting the Nazi movement experienced unusually high returns, outperforming unconnected ones by 5% to 8% between January and March 1933. These results are not driven by sectoral composition and are robust to alternative estimators and definitions of affiliation.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cites
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
The Difference Between “Significant” and “Not Significant” is not Itself Statistically Significant
Gelman, A., & Stern, H. (2006) · The American Statistician · doi:10.1198/000313006x152649 · Cited by 1,407
Cited by
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
Radio and the Rise of The Nazis in Prewar Germany *
Adena, M., Enikolopov, R., Petrova, M., Santarosa, V., & Zhuravskaya, E. (2015) · The Quarterly Journal of Economics · doi:10.1093/qje/qjv030 · Cited by 546
MPs for Sale? Returns to Office in Postwar British Politics
EGGERS, A. C., & HAINMUELLER, J. (2009) · American Political Science Review · doi:10.1017/s0003055409990190 · Cited by 318
Metadata
- Authors
- Ferguson, T., & Voth, H.-J.
- Venue
- The Quarterly Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 2008-02-01
- Volume
- 123
- Issue
- 1
- Pages
- 101-137
- ISSN
- 0033-5533 (ISSN-L)
- 1531-4650
- OpenAlex
- W1972065210
- Cited by
- 471
- References
- 2
- FWCI
- 23.33
- Type
- journal article
- Language
- en
- Open access
- closed
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
- This page
- CoChat. (2026). Citation check: Betting on Hitler—The Value of Political Connections in Nazi Germany*. https://app.cochat.ai/papers/10.1162/qjec.2008.123.1.101
- The paper
- Ferguson, T., & Voth, H.-J. (2008). Betting on Hitler—The Value of Political Connections in Nazi Germany*. The Quarterly Journal of Economics. https://doi.org/10.1162/qjec.2008.123.1.101
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
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.
