|
Based on your IP address, your paper is being delivered by:
|
 |
 |
 |
 |
 |
New York, USA
Processing request.
|
Illinois, USA
Processing request.
|
Brussels, Belgium
Processing request.
|
Seoul, Korea
Processing request.
|
California, USA
Processing request.
|
If you have any problems downloading this paper,
please click on another Download Location above, or
File name: SSRN-id1443379. ; Size: 139K
|
|
Differences between Politically Connected and Non-Connected Firms: A Cross Country Analysis
Mara Faccio
Purdue University - Krannert School of Management; Centre for Economic Policy Research (CEPR); European Corporate Governance Institute (ECGI)
August 3, 2009
Abstract:
Evidence from firms in 47 countries shows that companies with political connections have higher leverage and higher market shares, but they underperform compared to non-connected companies on an accounting basis. Differences between connected and unconnected firms are more pronounced when political links are stronger. Differences also vary depending on the level of corruption and the degree of economic development in individual countries.
Number of Pages in PDF File: 35
Keywords: Political connections, leverage, benefits
JEL Classification: D72, F39, G28, G3
working papers series
Download This Paper
Date posted: July 24, 2006
; Last revised: August 5, 2009
Suggested CitationFaccio, Mara, Differences between Politically Connected and Non-Connected Firms: A Cross Country Analysis (August 3, 2009). Available at SSRN: http://ssrn.com/abstract=918244 or http://dx.doi.org/10.2139/ssrn.918244
|
| Feedback to SSRN (Beta) |
|
|
People who downloaded this paper also downloaded:
1.
The Quality of Accounting Information in Politically Connected Firms
By
Paul Chaney,
Mara Faccio, ...
2.
Political Connections and Corporate Bailouts
By
Mara Faccio,
Ronald Masulis, ...
3.
Politically Connected Firms
By
Mara Faccio
4.
Do Politically Connected Boards Affect Firm Value?
By
Eitan Goldman,
Jongil So, ...
5.
Political Connections and the Cost of Equity Capital
By
Narjess Boubakri,
Omrane Guedhami, ...
6.
Boards of Banks
By
Daniel Ferreira,
Tom Kirchmaier, ...
7.
Economic Consequences of Financial Reporting and Disclosure Regulation: A Review and Suggestions for Future Research
By
Christian Leuz
and
Peter Wysocki
8.
Politically-Connected CEOs, Corporate Governance and Post-IPO Performance of China's Partially Privatized Firms
By
Joseph Fan
and
T.j. Wong
9.
The Impact of Political Connections on Firms' Operation Performance and Financing Decisions
By
Narjess Boubakri,
Jean-claude Cosset, ...
|
|
|
|
