Political connectedness and business performance: Evidence from Turkish industry rankings

Business and Politics

Volumn 17, Issue 1, 2015, Pages 41-73

  Özcan, Gül Berna ^a   Gündüz, Umut ^b  

^a UNIVERSITY OF LONDON   (United Kingdom)

^b ISTANBUL TECHNICAL UNIVERSITY   (Turkey)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84927163556     PISSN: 13695258     EISSN: 14693569     Source Type: Journal    
DOI: 10.1515/bap-2013-0037     Document Type: Article

References (67)

1. Abdel-Baki, Monal A. 2012. "Coalitions within the Egyptian Banking Sector: Catalysts of the Popular Revolution." Business and Politics 14 (1): 1-26.
2. Acemoglu, Daron and James A. Robinson. 2006. Economic Origins of Dictatorship and Democracy. Cambridge: Cambridge University Press.
3. Acemoglu, Daron, Simon Johnson, Amir Kermani, James Kwak and Todd Mitton. 2010. The Value of Political Connections in the United States. Cambridge, MA: National Bureau of Economic Research.
4. Adly, Amr Ismail. 2009. "Politically-Embedded Cronyism: The Case of Post-Liberalization Egypt." Business and Politics 11 (4): 1-28.
5. Atacan, Fulya. 2005. "Explaining Religious Politics at the Crossroad: AKP-SP." Turkish Studies 6 (2): 187-199.
6. Atasoy, Yildiz. 2009. Islam's Marriage with Neoliberalism: State Transformation in Turkey. New York: Palgrave-Macmillan.
7. Bayirbaʇ, Mustafa K. 2011. "Pro-Business Local Governance and (Local) Business Associations: The Case of Gaziantep." Business and Politics 13 (4): 1-37.
8. Bertrand, Marianne, Francis Kramarz, Antoniette Schoar and David Thesmar. 2007. "Politicians, Firms and the Political Business Cycle: Evidence from France." Unpublished working paper, University of Chicago.
9. Bhagwati, Jagdish N. 1998. "The Capital Myth: The Difference between Trade in Widgets and Dollars." Foreign Affairs 77 (3): 7-12.
10. Boubakri, Narjess, Jean-Claude Cosset and Walid Saffar. 2008. "Politically Connected Newly Privatized Firms." Journal of Corporate Finance 14: 654-673.
11. Bartu-Candan, Ayfer and Biray Kolluoglu. 2008. "Emerging Spaces of Neoliberalism: A Gated Town and a Public Housing Project in ̄stanbul." New Perspectives on Turkey 39: 5-46.
12. Boubakri, Narjess, Jean-Claude Cosset and Walid Saffar. 2012. "The Impact of Political Connections on Firms' Operating Performance and Financing Decisions." Journal of Financial Research 35 (3): 397-423.
13. Boubakri, Narjess, Sattar A. Mansi and Walid Saffar. 2013. "Political Institutions, Connectedness, and Corporate Risk-Taking." Journal of International Business Studies 44: 195-215.
14. Bucheli, Marcelo and Min Young Kim. 2012. "Political Institutional Change, Obsolescing Legitimacy, and Multinational Corporations: The Case of the Central American Banana Industry." Management International Review 52 (6): 847-877.
15. Buʇra, Ayşe. 1995. State and Business in Modern Turkey: A Comparative Study. Albany: State University of New York Press.
16. Chen, Charles J. P., Yuan Ding and Chansog Kim. 2010. "High-Level Politically Connected Firms, Corruption, and Analyst Forecast Accuracy around the World." Journal of International Business Studies 41: 1505-1524.
17. Choi, Jay Pil and Marcel Thum. 2009. "The Economics of Politically Connected Firms." International Journal of Tax and Public Finance 16: 605-620.
18. Claessens, Stijn, Erik Feijen and Luc Laeven. 2008. "Political Connections and Preferential Access to Finance: The Role of Campaign Contributions." Journal of Financial Economics 88: 554-580.
19. Çokgezen, Murat. 2000. "New Fragmentations and New Cooperations in the Turkish Bourgeoisie." Environment and Planning C: Government and Policy 8: 525-544.
20. David, Thomas, Stephanie Ginalski, Andre Mach and Frederic Rebmann. 2010. "Networks of Coordination: Swiss Business Associations as an Intermediary between Business, Politics and Administration during the 20th Century." Business and Politics 11: 1-40.
21. Dinç, I. Serdar. 2005. "Politicians and Banks: Political Influences on Government-Owned Banks in Emerging Countries." Journal of Financial Economics 77: 453-479.
22. Faccio, Mara. 2006. "Politically Connected Firms." American Economic Review 96 (1): 369-386.
23. Faccio, Mara, Ronald W. Masulis and John J. McConnell. 2006. "Political Connections and Government Bailouts." Journal of Finance 61: 2597-2635.
24. Fan, Joseph P. H., T. J. Wong and Tianyu 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.
25. Fisman, Raymond. 2001. "Estimating the Value of Political Connections." American Economic Review 91: 1095-1102.
26. Goldman, Eitan, Jörg Rocholl and Jongil So. 2009. "Do Politically Connected Boards Affect Firm Value?" Review of Financial Studies 22 (6): 2331-2360.
27. Gumuscu, Sebnem. 2010. "Class, Status, and Party: The Changing Face of Political Islam in Turkey and Egypt." Comparative Political Studies 43 (7): 835-861.
28. Gülalp, Haldun. 1999. "Political Islam in Turkey: The Rise and Fall of the Refah Party." The Muslim World 89 (1): 22-41.
29. Gündüz, Umut and Gül Berna Özcan. Forthcoming. "Energy Privatisations, Business-Politics Connections and Governance Under Political Islam." Environment and Planning C: Government and Policy.
30. Guriev, Sergei and Andrei Rachinsky. 2005. "The Role of Oligarchs in Russian Capitalism." Journal of Economic Perspectives 19 (1): 131-150.
31. Harvey, Benjamin and Taylan Bilgiç. 2013. "Erdogan's IMF Triumph Masks Surge in Private Debt: Turkey Credit." Bloomberg, 14 May 2013.
32. Hankla, Charles Robert. 2006. "Party Linkages and Economic Policy: An Examination of Indira Gandhi's India." Business and Politics 8: 1-29.
33. Hicken, Allen. 2011. "Clientelism." Annual Review of Political Science 14: 289-310.
34. Hoşgör, Evren. 2011. "Islamic Capital/Anatolian Tigers: Past and Present." Middle Eastern Studies 47 (2): 343-360.
35. Johnson, Simon and Todd Mitton. 2003. "Cronyism and Capital Controls: Evidence from Malaysia." Journal of Financial Economics 67: 351-382.
36. Johnson, Simon and James Kwak. 2010. 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown. New York: Pantheon Books.
37. Jones, Benjamin F. and Benjamin A. Olken. 2005. "Do Leaders Matter? National Leadership and Growth Since World War II." Quarterly Journal of Economics 120: 835-864.
38. Junisbai, Barbara. 2012. "Improbable but Potentially Pivotal Oppositions: Privatization, Capitalists, And Political Contestation in the Post-Soviet Autocracies." Perspectives on Politics 10: 891-916.
39. Karadaʇ, Roy. 2010. "Neoliberal Restructuring in Turkey from State to Oligarchic Capitalism." Max Planck Institute for the Study of Societies, Discussion Paper 10/7.
40. Karaman, Ozan. 2013. "Urban Neoliberalism with Islamic Characteristics." Urban Studies 50 (16): 3412-3427.
41. Keillor, Bruce D. and G. Tomas M. Hult. 2004. "Predictors of Firm-Level Political Behavior in the Global Business Environment: An Investigation of Specific Activities Employed by US Firms." International Business Review 13: 309-329.
42. Kettering, Sharon. 1988. "The Historical Development of Political Clientelism." The Journal of Interdisciplinary History 18 (3): 419-447.
43. Khanna, Tarun and Krishna Palepu. 1999. "Policy Shocks, Market Intermediaries, And Corporate Strategy: The Evolution of Business Groups in Chile and India." Journal of Economics and Management Strategy 8 (2): 271-310.
44. Khanna, Tarun and Yishay Yafeh. 2007. "Business Groups in Emerging Markets: Paragons or Parasites?" Journal of Economic Literature 45: 331-372.
45. Khwaja, Asim Ijaz and Atif Mian. 2005. "Do Lenders Favor Politically Connected Firms? Rent Provision in an Emerging Financial Market." Quarterly Journal of Economics 120: 1371-1411.
46. Kurban, Dilek and Ceren Sozeri. 2012. Caught in the Wheels of Power: The Political, Legal and Economic Constraints on Independent Media and Freedom of the Press in Turkey. Istanbul: TESEV.
47. Li, Jiatao and Yi Tang. 2013. "The Social Influence of Executive Hubris: Cross-Cultural Comparison and Indigenous Factors." Management International Review 53 (1): 83-107.
48. Nam, Chang-Hee. 1995. "South Korea's Big Business Clientelism in Democratic Reform." Asian Survey 25 (4): 357-366.
49. Öniş, Ziya. 1997. "The Political Economy of Islamic Resurgence in Turkey: The Rise of The Welfare Party in Perspective." Third World Quarterly 18 (4): 743-766.
50. Öniş, Ziya. 2011. "Power, Interests and Coalitions: The Political Economy of Mass Privatisation in Turkey." Third World Quarterly 32 (4): 707-724.
51. Özcan, Gül Berna. 2006. "A Critical Analysis of Decentralisation and Local Economic Development: The Turkish Case." Environment and Planning C: Government and Policy 24 (1): 117-138.
52. Özcan, Gül Berna. 2010. Building States and Markets: Enterprise Development in Central Asia. Basingstoke: Palgrave Macmillan.
53. Özcan, Gül Berna and Murat Çokgezen. 2003. "Limits to Alternative Forms of Capitalisation: The Case of Anatolian Holding Companies." World Development 31 (12): 2061-2084.
54. Özcan, Gül Berna and Murat Çokgezen. 2006. "Trusted Markets: The Exchanges of Islamic Companies." Comparative Economic Studies 48 (1): 132-155.
55. Polat, Necati. 2013. "Regime Change in Turkey." International Politics 50 (3): 435-454.
56. Ramamurti, Ravi. 2000. "A Multilevel Model of Privatization in Emerging Economies." The Academy of Management Review 25 (3): 525-550.
57. Roberts, Brian E. 1990. "A Dead Senator Tells No Lies: Seniority and the Distribution of Federal Benefits." American Journal of Political Science 34: 31-58.
58. Robinson, James A. and Thierry Verdier. 2002. "The Political Economy of Clientelism." Centre For Economic Policy Research, Discussion Paper No: 3205.
59. Salas-Porras, Alejandra. 2005. "Changing the Basis of Political Support in Mexico: Pro-Business Networks and the Market Reform Agenda." Review of International Political Economy 12 (1): 129-154.
60. Sapienza, Paola. 2004. "The Effects of Government Ownership on Bank Lending." Journal of Financial Economics 72: 357-384.
61. Tuʇal, Cihan Ziya. 2009. Passive Revolution: Absorbing the Islamic Challenge to Capitalism. Stanford, California: Stanford University Press.
62. Tuʇal, Cihan Ziya. 2012. "Fight or Acquiesce? Religion and Political Process in Turkey's and Egypt's Neoliberalizations." Development and Change 43 (1): 23-51.
63. Uygur, Selçuk. 2009. "The Islamic Work Ethic and the Emergence of Turkish SME Owner-Managers." Journal of Business Ethics 88 (1): 211-225.
64. Yalçin, Soner. 2012. Samizdat. Istanbul: Doʇan Yayincilik.
65. Yavuz, Hakan M. 2004. Islamic Political Identity in Turkey. Oxford: Oxford University Press.
66. Wank, David L. 2002. "Business-State Clientelism in China: Decline Or Evolution." In Social Connections in China: Institutions, Culture, and the Changing Nature of Guanxi, edited by D. Gold, D. Guthrie and D. Wank. Cambridge: Cambridge University Press.
67. Zhang, Qi and Mingxing Lui. 2010. "Local Political Elite, Partial Reform Symptoms, and the Business and Market Environment ̄n Rural China." Business and Politics 12: 1-39.