메뉴 건너뛰기




Volumn 18, Issue 3, 2013, Pages 283-317

Political connections and firm performance in Chinese companies

Author keywords

[No Author keywords available]

Indexed keywords

BUSINESS; FIRM OWNERSHIP; POLITICAL POWER; STATE OWNED ENTERPRISE; STATE-BUSINESS RELATIONS;

EID: 84881271400     PISSN: 1361374X     EISSN: 14680106     Source Type: Journal    
DOI: 10.1111/1468-0106.12025     Document Type: Article
Times cited : (78)

References (38)
  • 1
    • 33748917093 scopus 로고    scopus 로고
    • Public Policy, Political Connections, and Effective Tax Rates: Longitudinal Evidence from Malaysia
    • Adhikari, A., C. Derashid and H. Zhang (2006) 'Public Policy, Political Connections, and Effective Tax Rates: Longitudinal Evidence from Malaysia', Journal of Accounting and Public Policy 25, 574-595.
    • (2006) Journal of Accounting and Public Policy , vol.25 , pp. 574-595
    • Adhikari, A.1    Derashid, C.2    Zhang, H.3
  • 2
    • 0001330687 scopus 로고    scopus 로고
    • Do Some Outside Directors Play a Political Role?
    • Agrawal, A. and C. R. Knoeber (2001) 'Do Some Outside Directors Play a Political Role?', Journal of Law and Economics 44, 179-198.
    • (2001) Journal of Law and Economics , vol.44 , pp. 179-198
    • Agrawal, A.1    Knoeber, C.R.2
  • 4
    • 79952910035 scopus 로고    scopus 로고
    • Political Connections and Minority-shareholders Protection: Evidence from Securities-market Regulation in China
    • Berkman, H., A. Cole and L. Fu (2010) 'Political Connections and Minority-shareholders Protection: Evidence from Securities-market Regulation in China', Journal of Quantitative and Financial Analysis 45, 1391-1417.
    • (2010) Journal of Quantitative and Financial Analysis , vol.45 , pp. 1391-1417
    • Berkman, H.1    Cole, A.2    Fu, L.3
  • 5
    • 78751704660 scopus 로고    scopus 로고
    • Rent-seeking Incentives, Corporate Political Connections, and the Control Structure of Private Firms: Chinese Evidence
    • Chen, C. J. P., Z. Li, X. Su and Z. Sun (2011a) 'Rent-seeking Incentives, Corporate Political Connections, and the Control Structure of Private Firms: Chinese Evidence', Journal of Corporate Finance 17, 229-243.
    • (2011) Journal of Corporate Finance , vol.17 , pp. 229-243
    • Chen, C.J.P.1    Li, Z.2    Su, X.3    Sun, Z.4
  • 6
    • 78751703213 scopus 로고    scopus 로고
    • Government Intervention and Investment Efficiency: Evidence from China
    • Chen, S., Z. Sun, S. Tang and D. Wu (2011b) 'Government Intervention and Investment Efficiency: Evidence from China', Journal of Corporate Finance 17, 259-271.
    • (2011) Journal of Corporate Finance , vol.17 , pp. 259-271
    • Chen, S.1    Sun, Z.2    Tang, S.3    Wu, D.4
  • 7
    • 33749127008 scopus 로고    scopus 로고
    • Tunneling, Propping, and Expropriation: Evidence from Connected Party Transactions in Hong Kong
    • Cheung, Y. E., P. R. Rau and A. Stouraitis (2006) 'Tunneling, Propping, and Expropriation: Evidence from Connected Party Transactions in Hong Kong', Journal of Financial Economics 82, 343-386.
    • (2006) Journal of Financial Economics , vol.82 , pp. 343-386
    • Cheung, Y.E.1    Rau, P.R.2    Stouraitis, A.3
  • 8
    • 77958549667 scopus 로고    scopus 로고
    • Helping Hand or Grabbing Hand? Central versus Local Government Shareholders in Chinese Listed Firms
    • Cheung, Y. E., P. R. Rau and A. Stouraitis (2010) 'Helping Hand or Grabbing Hand? Central versus Local Government Shareholders in Chinese Listed Firms', Review of Finance 14, 669-694.
    • (2010) Review of Finance , vol.14 , pp. 669-694
    • Cheung, Y.E.1    Rau, P.R.2    Stouraitis, A.3
  • 9
    • 46049105914 scopus 로고    scopus 로고
    • Political Connections and Preferential Access to Finance: The Role of Campaign Contributions
    • Claessens, S., E. Feijen and L. Laeven (2008) 'Political Connections and Preferential Access to Finance: The Role of Campaign Contributions', Journal of Financial Economics 88, 554-580.
    • (2008) Journal of Financial Economics , vol.88 , pp. 554-580
    • Claessens, S.1    Feijen, E.2    Laeven, L.3
  • 10
    • 77952563031 scopus 로고    scopus 로고
    • Corporate Political Contributions and Stock Returns
    • Cooper, M. J., H. Gulen and A. V. Ovtchinnikov (2010) 'Corporate Political Contributions and Stock Returns', Journal of Finance 65, 687-724.
    • (2010) Journal of Finance , vol.65 , pp. 687-724
    • Cooper, M.J.1    Gulen, H.2    Ovtchinnikov, A.V.3
  • 11
    • 20444461207 scopus 로고    scopus 로고
    • Institutions, Ownership, and Finance: The Determinants of Profit Reinvestment among Chinese Firms
    • Cull, R. and L. C. Xu (2005) 'Institutions, Ownership, and Finance: The Determinants of Profit Reinvestment among Chinese Firms', Journal of Financial Economics 77, 117-146.
    • (2005) Journal of Financial Economics , vol.77 , pp. 117-146
    • Cull, R.1    Xu, L.C.2
  • 12
    • 22144475794 scopus 로고    scopus 로고
    • Politicians and Banks: Political Influences on Government-owned Banks in Emerging Markets
    • Dinç, I. S. (2005) 'Politicians and Banks: Political Influences on Government-owned Banks in Emerging Markets', Journal of Financial Economics 77, 453-459.
    • (2005) Journal of Financial Economics , vol.77 , pp. 453-459
    • Dinç, I.S.1
  • 13
    • 33645727687 scopus 로고    scopus 로고
    • Politically Connected Firms
    • Faccio, M. (2006) 'Politically Connected Firms', American Economic Review 96, 369-386.
    • (2006) American Economic Review , vol.96 , pp. 369-386
    • Faccio, M.1
  • 14
    • 78649469698 scopus 로고    scopus 로고
    • Differences between Politically Connected and Non-connected Firms: A Cross Country Analysis
    • Faccio, M. (2010) 'Differences between Politically Connected and Non-connected Firms: A Cross Country Analysis', Financial Management 39, 905-928.
    • (2010) Financial Management , vol.39 , pp. 905-928
    • Faccio, M.1
  • 15
  • 16
    • 50849093538 scopus 로고    scopus 로고
    • Public Governance and Corporate Finance: Evidence from Corruption Cases
    • Fan, J. P. H., O. M. Rui and M. Zhao (2008) 'Public Governance and Corporate Finance: Evidence from Corruption Cases', Journal of Comparative Economics 36, 343-364.
    • (2008) Journal of Comparative Economics , vol.36 , pp. 343-364
    • Fan, J.P.H.1    Rui, O.M.2    Zhao, M.3
  • 17
    • 34247262521 scopus 로고    scopus 로고
    • Politically Connected CEOs, Corporate Governance, and Post-IPO Performance of China's Newly Partially Privatized Firms
    • Fan, J. P. H., T. J. Wong and T. Zhang (2007) 'Politically Connected CEOs, Corporate Governance, and Post-IPO Performance of China's Newly Partially Privatized Firms', Journal of Financial Economics 84, 330-357.
    • (2007) Journal of Financial Economics , vol.84 , pp. 330-357
    • Fan, J.P.H.1    Wong, T.J.2    Zhang, T.3
  • 18
    • 42149113416 scopus 로고    scopus 로고
    • Betting on Hitler: The Value of Political Connections in Nazi Germany
    • Ferguson, T. and H. J. Voth (2008) 'Betting on Hitler: The Value of Political Connections in Nazi Germany', Quarterly Journal of Economics 123, 101-137.
    • (2008) Quarterly Journal of Economics , vol.123 , pp. 101-137
    • Ferguson, T.1    Voth, H.J.2
  • 19
    • 0001609111 scopus 로고    scopus 로고
    • Estimating the Value of Political Connections
    • Fisman, R. (2001) 'Estimating the Value of Political Connections', American Economic Review 91, 1095-1102.
    • (2001) American Economic Review , vol.91 , pp. 1095-1102
    • Fisman, R.1
  • 20
    • 64749097052 scopus 로고    scopus 로고
    • Political Connections and the Process of Going Public: Evidence from China
    • Francis, B., I. Hasan and X. Sun (2009) 'Political Connections and the Process of Going Public: Evidence from China', Journal of International Money and Finance 28, 696-719.
    • (2009) Journal of International Money and Finance , vol.28 , pp. 696-719
    • Francis, B.1    Hasan, I.2    Sun, X.3
  • 21
    • 67649565535 scopus 로고    scopus 로고
    • Do Political Connected Boards Affect Firm Value?
    • Goldman, E., J. Rocholl and J. So (2009) 'Do Political Connected Boards Affect Firm Value?', Review of Financial Studies 22, 2331-2360.
    • (2009) Review of Financial Studies , vol.22 , pp. 2331-2360
    • Goldman, E.1    Rocholl, J.2    So, J.3
  • 22
    • 0347281675 scopus 로고    scopus 로고
    • Seize the State, Seize the Day: State Capture and Influence in Transition Economies
    • Hellman, J., G. Jones and D. Kaufmann (2003) 'Seize the State, Seize the Day: State Capture and Influence in Transition Economies', Journal of Comparative Economics 31, 751-773.
    • (2003) Journal of Comparative Economics , vol.31 , pp. 751-773
    • Hellman, J.1    Jones, G.2    Kaufmann, D.3
  • 23
    • 0001066475 scopus 로고
    • Agency Cost of Free Cash Flows, Corporate Finance, and Takeovers
    • Jensen, M. C. (1986) 'Agency Cost of Free Cash Flows, Corporate Finance, and Takeovers', American Economic Review 76, 323-329.
    • (1986) American Economic Review , vol.76 , pp. 323-329
    • Jensen, M.C.1
  • 24
    • 0037292733 scopus 로고    scopus 로고
    • Cronyism and Capital Controls: Evidence from Malaysia
    • Johnson, S. and T. Mitton (2003) 'Cronyism and Capital Controls: Evidence from Malaysia', Journal of Financial Economics 67, 351-382.
    • (2003) Journal of Financial Economics , vol.67 , pp. 351-382
    • Johnson, S.1    Mitton, T.2
  • 25
    • 31444435396 scopus 로고    scopus 로고
    • Do Lenders Favor Politically Connected Firms? Rent Seeking in an Emerging Financial Market
    • Khwaja, A. I. and A. Mian (2005) 'Do Lenders Favor Politically Connected Firms? Rent Seeking in an Emerging Financial Market', Quarterly Journal of Economics 120, 1371-1411.
    • (2005) Quarterly Journal of Economics , vol.120 , pp. 1371-1411
    • Khwaja, A.I.1    Mian, A.2
  • 26
    • 0001645347 scopus 로고    scopus 로고
    • Interest Group Competition and the Organization of Congress: Theory and Evidence from Financial Services' Political Action Committees
    • Kroszner, R. S. and T. Stratmann (1998) 'Interest Group Competition and the Organization of Congress: Theory and Evidence from Financial Services' Political Action Committees', American Economic Review 88, 1163-1188.
    • (1998) American Economic Review , vol.88 , pp. 1163-1188
    • Kroszner, R.S.1    Stratmann, T.2
  • 27
    • 0000367973 scopus 로고
    • The Political Economy of the Rent-seeking Society
    • Krueger, A. (1974) 'The Political Economy of the Rent-seeking Society', American Economic Review 64, 291-303.
    • (1974) American Economic Review , vol.64 , pp. 291-303
    • Krueger, A.1
  • 29
    • 33746130781 scopus 로고    scopus 로고
    • Political Relationships, Global Financing, and Corporate Transparency
    • Leuz, C. and F. Oberholzer-Gee (2006) 'Political Relationships, Global Financing, and Corporate Transparency', Journal of Financial Economics 81, 411-439.
    • (2006) Journal of Financial Economics , vol.81 , pp. 411-439
    • Leuz, C.1    Oberholzer-Gee, F.2
  • 30
    • 48049119272 scopus 로고    scopus 로고
    • Political Connections, Financing and Firm Performance: Evidence from Chinese Private Firms
    • Li, H., L. Meng, Q. Wang and L. A. Zhou (2008) 'Political Connections, Financing and Firm Performance: Evidence from Chinese Private Firms', Journal of Development Economics 87, 283-299.
    • (2008) Journal of Development Economics , vol.87 , pp. 283-299
    • Li, H.1    Meng, L.2    Wang, Q.3    Zhou, L.A.4
  • 31
    • 33745447157 scopus 로고    scopus 로고
    • Why Do Entrepreneurs Enter Politics? Evidence from China
    • Li, H., L. Meng and J. Zhang (2006) 'Why Do Entrepreneurs Enter Politics? Evidence from China', Economic Inquiry 44, 559-578.
    • (2006) Economic Inquiry , vol.44 , pp. 559-578
    • Li, H.1    Meng, L.2    Zhang, J.3
  • 32
    • 34547159195 scopus 로고    scopus 로고
    • The Role of Managers' Political Networking and Functional Experience in New Venture Performance: Evidence from China's Transition Economy
    • Li, H. Y. and Y. Zhang (2007) 'The Role of Managers' Political Networking and Functional Experience in New Venture Performance: Evidence from China's Transition Economy', Strategic Management Journal 28, 791-804.
    • (2007) Strategic Management Journal , vol.28 , pp. 791-804
    • Li, H.Y.1    Zhang, Y.2
  • 33
    • 77957368217 scopus 로고    scopus 로고
    • The Value of Independent Directors: Evidence from Sudden Deaths
    • Nguyen, B. D. and K. M. Nielsen (2010) 'The Value of Independent Directors: Evidence from Sudden Deaths', Journal of Financial Economics 98, 550-567.
    • (2010) Journal of Financial Economics , vol.98 , pp. 550-567
    • Nguyen, B.D.1    Nielsen, K.M.2
  • 35
    • 33746238338 scopus 로고    scopus 로고
    • Over-investment of Free Cash Flow
    • Richardson, S. (2006) 'Over-investment of Free Cash Flow', Review of Accounting Studies 11, 159-189.
    • (2006) Review of Accounting Studies , vol.11 , pp. 159-189
    • Richardson, S.1
  • 36
    • 78649482156 scopus 로고    scopus 로고
    • Excess Cash and Stock Returns
    • Simutin, M. (2010) 'Excess Cash and Stock Returns', Financial Management 39, 1197-1222.
    • (2010) Financial Management , vol.39 , pp. 1197-1222
    • Simutin, M.1
  • 37
    • 0000095552 scopus 로고
    • A Heteroskedasticity-consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity
    • White, H. (1980) 'A Heteroskedasticity-consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity', Econometrica 48, 817-838.
    • (1980) Econometrica , vol.48 , pp. 817-838
    • White, H.1
  • 38
    • 84865436092 scopus 로고    scopus 로고
    • Ownership and the Value of Political Connections: Evidence from China
    • Wu, W., C. Wu and O. M. Rui (2012) 'Ownership and the Value of Political Connections: Evidence from China', European Financial Management 18, 695-729.
    • (2012) European Financial Management , vol.18 , pp. 695-729
    • Wu, W.1    Wu, C.2    Rui, O.M.3


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.