The cost of political connections
WebWe examine the influence of political connections on the agency conflicts between controlling shareholders and minority shareholders using the exogenous setting of File 18, … WebIn this paper, we analyze the effect of political connections on the level and cost of debt of U.S. firms. We identify politically connected firms through manually collecting data on their financial contributions to the two major U.S. political parties, the Democratic Party and the Republican Party, during the 2008 and 2012 U.S. election campaigns.
The cost of political connections
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WebMay 1, 2024 · The Cost of Political Connections. Using plant-level data from France, we document a potential cost of political connections for firms that is not offset by other benefits. Politically connected CEOs alter corporate employment decisions to help (regional) politicians in their re-election efforts by having higher job and plant creation rates ... WebDec 1, 2024 · First, political connections increase insiders' expropriation incentives to cover the costs and reap the benefits of ties to politicians. Controlling shareholders incur the …
WebMay 1, 2024 · The cost of political connections echoes the idea of the transitional gains trap introduced by Tullock (1975), who argues that rent seekers always fail to obtain above … WebMay 1, 2024 · This is consistent with our more detailed analysis of the cost of political connections in France. In the US context, a number of papers have shown that political contributions and lobbying expenses are associated with positive results for the …
http://revfin.org/the-cost-of-political-connections/ WebMay 23, 2024 · “ The Cost of Political Connections.” ... The moderating role of political connections and financial resources. Journal of Business Research, Vol. 137, Issue. , p. 255. CrossRef; Google Scholar; Basco, Rodrigo Rodríguez-Escudero, Ana Isabel Martin Cruz, Natalia and Barros-Contreras, Ismael 2024.
WebJun 1, 2012 · Motivated by recent research on the costs and benefits of political connection, we examine the cost of equity capital of politically connected firms. Using propensity …
WebJan 6, 2024 · The search yields 24 published empirical papers from 2005 to 2024.,Findings show that there is a significant negative association between political connections and … adzillaWebSep 1, 2024 · Leveraging original surveys of the same Chinese firms over an eleven-year period and the variations in their post-restructuring board composition, we find that restructured state-owned enterprises... adzenys to adderall conversionWebJan 1, 2006 · Sudden Deaths: Taking Stock of Political Connections. M. Faccio, David Parsley. Published 1 January 2006. Economics. Law & Positive Political Theory eJournal. Many firms voluntarily incur the costs of attempting to influence politicians. However, estimates of the value of political connections have been made in only a few cases. k5b1020 大同メタルWebIn view of the adverse consequences for tax aggressive firms, we argue that these firms develop political connections for exploiting political linkages and the influential status of politicians for overcoming reputational issues and gaining convenient and cost-effective access to financing (Khwaja & Mian, Citation 2005; Faccio, Citation 2010 ... k5b 大同メタルWebThis paper analyzes whether the political connections of listed firms in the United States affect the cost and terms of loan contracts. Using a hand‐collected data set of the political connections of S&P 500 companies over the 2003–2008 time period, we find that the cost of bank loans is significantly lower for companies that have board ... adzeo montaubanWebDec 13, 2013 · Purchase Instant Access 48-Hour online access $12.00 Details Online-only access $20.00 Details PDF download and online access $49.00 Details Check out ABSTRACT This paper analyzes whether the political connections of listed firms in the United States affect the cost and terms of loan contracts. k5 api ユーザーズガイドWebThe observation of firms’ political connections (PCs) in both types of ascribed and acquired PCs has raised the question of their benefits to firms’ operation. Based on 1,365 Vietnamese listed firm-year observations from 2010 to 2014, we find that although firms with both ascribed and acquired PCs have lower firm value (FV) than firms ... k5b ブッシュ