Political connections of newly privatized firms

Boubakri, Narjess; Cosset, Jean Claude; Saffar, Walid

doi:10.1016/j.jcorpfin.2008.08.003

Cited by 559 publications

(437 citation statements)

References 51 publications

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“…Typically, privatized firms are expected to be independent from government control. In instances where government does not relinquish control, conflicting objectives may arise (Boubakri et al, 2008) and the resultant agency problem (Jensen & Meckling, 1976) is expected to impact firm performance. Privatized firms are perhaps attractive to CPA researchers because of the likelihood that they would still be connected to government.…”

Section: Emerging Countriesmentioning

confidence: 99%

“…Similarly, Hadani and Schuler (2013) reported evidence to suggest that CPA has a negative impact on market value. Politically connected firms record poor accounting performance after privatization (Boubakri et al, 2008) and after initial public offerings (Fan et al, 2007). Connected firms also have poor accruals quality (Chaney et al, 2011) and are charged higher interest rates on loans (Bliss & Gul, 2012).…”

Section: Negative Performance Outcomesmentioning

confidence: 99%

“…The performance implications of CPA for MNEs lag behind the pack. Nonetheless, a few studies have attempted to compare performance of politically active firms across multiple countries (Boubakri, Cosset, & Saffar, 2008;Boubakri, Guedhami, Mishra, & Saffar, 2012;Boubakri, Cosset, & Saffar, 2012;Faccio, 2006). Though this approach does not address international business in its purest sense, it does hint at some of the important relationships between institutional environments and CPA outcomes.…”

Section: Introductionmentioning

confidence: 99%

“…McKay and WebbYackee (2007) 4 Bliss and Gul (2012) 24 Hadani and Schuler (2013) 44 Mian et al (2010) 5 25 Hassan et al (2012) 45 Niessen and Ruenzi (2010) 6 Boubakri et al (2008) 26 Hersch et al (2008) 46 Peng and Luo (2000) 7 27 47 Richter et al (2009) …”

mentioning

confidence: 99%

See 3 more Smart Citations

Political activity and firm performance within nonmarket research: A review and international comparative assessment

Rajwani

Liedong

2015

Journal of World Business

170

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Section: Emerging Countriesmentioning

confidence: 99%

Section: Negative Performance Outcomesmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

mentioning

confidence: 99%

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Political activity and firm performance within nonmarket research: A review and international comparative assessment

Rajwani

Liedong

2015

Journal of World Business

170

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“…We examine several sets of regulation, exchange rule, and governance variables. (Cumming and Johan, 2008;Cumming, Johan and Li, 2011 (Erb et al, 1996;Gradstein, 2007;Boubakri et al, 2008). A higher score indicates a less risky country.…”

Section: Key Independent Variables: the Regulation Variablesmentioning

confidence: 99%

Exchange trading rules, governance, and trading location of cross-listed stocks

Cumming

Hou

2015

The European Journal of Finance

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This paper shows stock exchange trading rules are of central importance for the trading location of cross-listed stocks. We consider various measures of sovereign governance and shareholder rights across countries to assess other legal and institutional drivers of trading activity. The data indicate that the proportion of trades that occurs on an exchange increases at a decreasing rate with the number of stock exchange trading rules. The effectiveness of stock exchange rules increases with the strength of regulatory institutions. Further, recent trading rule regulatory reforms pertaining to MIFID and RegNMS affect trading location.

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CEOs' religious beliefs and the environmental innovation of private enterprises: The moderating role of political ties

Liao

Dong

Weng

et al. 2019

Corp Soc Responsibility Env

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Environmental innovation is an important way for enterprises to take social responsibility. Based on upper echelons theory, this study constructed a model of the relationship of religious beliefs, political ties, and environmental innovation. The CEOs of 196Chinese private enterprises were selected as the research sample, and the multiple regression analysis method was used to test the influence of the CEOs' religious beliefs on the environmental innovation of the enterprises, as well as the moderating role of the CEOs' political ties. The results showed that CEOs' Eastern religious beliefs had a positive effect on the incremental eco-innovation of the private enterprises and a negative effect on radical eco-innovation. However, the CEOs' Western religious beliefs had a negative effect on the incremental eco-innovation of the private enterprises and a positive effect on radical eco-innovation. In addition, the results showed that political ties played a positive moderating role between the CEOs' Eastern religion beliefs and the incremental eco-innovation and between CEOs' Western religion beliefs and the radical eco-innovation of the private enterprises.

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Political connections of newly privatized firms

Cited by 559 publications

References 51 publications

Political activity and firm performance within nonmarket research: A review and international comparative assessment

Political activity and firm performance within nonmarket research: A review and international comparative assessment

Exchange trading rules, governance, and trading location of cross-listed stocks

CEOs' religious beliefs and the environmental innovation of private enterprises: The moderating role of political ties

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