Untying the motives of giving grants vs. loans

Gaibulloev, Khusrav; Younas, Javed

doi:10.1016/j.ejpoleco.2017.04.004

Cited by 3 publications

(3 citation statements)

References 41 publications

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“…In this context, Paulo Nicolato (2016) agrees with what is mentioned by Gaibulloev and Younas (2018), when they mention that conflicts have a negative impact on the economy. The state-owned Petrobrás scandal gained visibility in the media with the investigation of a money laundering scheme that would have illegally moved about R$ 10 billion.…”

Section: Financial Performance and Operation Lava Jatomentioning

confidence: 56%

Impact of Lava-Jato Operation on the financial performance of brazilian companies: an event study

Peixe

Bach

Silva

et al. 2023

Cien. Soc. Apl. Rev.

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This article aims to analyze the impact of Operation Lava-Jato, promoted by the Federal Police of Brazil, on the financial performance of companies listed on the São Paulo Stock Exchange (B3) from 2014 to 2017. This operation revealed the greatest scandal of political corruption in the country, with large amounts of public money transferred to cartels, politicians, and large Brazilian corporations in corruption schemes over the years. Data were collected from 106 Brazilian publicly traded companies related to ten different economic sectors. Documentary research was conducted on financial reports, and information was extracted from 11 different financial variables on the Bloomberg platform. The variable that measured the impact of Lava-Jato Operation was selected considering the increase in the volume of financial information disclosed, and the performance was evaluated by the variable stock price return. Data were analyzed by regression with panel data. The variables that affected financial performance were: multiplicative dummy of the first period, stock price, company size, risk, composition of permanent assets/indebtedness, and permanent assets. This article contributes to understanding the financial context of Brazilian companies, in the face of political and economic instability and corruption. Fluctuations in stock prices in the period studied, given the news released about corruption in Brazil, become a warning for companies to understand the importance of disclosing their financial information to obtain company credibility. Thus, facing the financial market, companies could protect themselves by presenting an emphasis based on financial efficiency, transparency, productivity and the professionalization of their practices.

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Section: Financial Performance and Operation Lava Jatomentioning

confidence: 56%

Impact of Lava-Jato Operation on the financial performance of brazilian companies: an event study

Peixe

Bach

Silva

et al. 2023

Cien. Soc. Apl. Rev.

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“…Constituting a great source of revenue for numerous recipient countries, foreign aid composes of two main forms: grants and loans (with lowinterest rates). Even though donors generally adopt a mixture of two types of aid, their determinants and effectiveness are pretty different (Collier, 2006;Cohen et al, 2007;Gaibulloev and Younas, 2018). These two transfer types both accounted for the foreign aid category of the OECD-DAC, 1 are two complementary instruments having usually different motives from donors.…”

Section: Introductionmentioning

confidence: 99%

Effects of development aid (grants and loans) on the economic dynamics of the recipient country

Van

Pham²,

Pham

2023

Mathematical Social Sciences

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“…In the case of the US, Lskavyan (2014) shows that left-leaning recipients tend to receive more aid under left-leaning US governments. In addition, Gaibulloev and Younas (2017) show that during elections years donors, on average, allocate more aid in grants and loans to their politically aligned administrations independent of recipients' income level. Thus, the research shows that the strategic and ideological motives of donors go hand in hand with the economic and humanitarian motives of aid allocation.…”

Section: Introductionmentioning

confidence: 99%

US aid, US educated leaders and economic ideology

Minasyan

2018

European Journal of Political Economy

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The Unites States (US) openly promotes its economic ideology of free-markets through foreign aid. It also regards foreign education in the US as a way of spreading its own ideas and values among the elite in developing countries. US educated aid recipient country leaders may thus receive more US aid, if they share both the cultural values and economic ideology of the US. I test this hypothesis using a panel fixed-effects regression model for 896 leaders and 143 countries over the period from 1981 to 2010. I address self-and donor-selection biases by including leader fixed effects in the regression analysis, in addition to the country and year fixed effects. In result, I find that, on average, the US allocates 30 percent more bilateral aid to US educated leaders with right-leaning political beliefs compared to those with left-leaning political beliefs. Heterogeneity analysis reveals that these findings are driven by right-leaning US leadership.

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Untying the motives of giving grants vs. loans

Cited by 3 publications

References 41 publications

Impact of Lava-Jato Operation on the financial performance of brazilian companies: an event study

Impact of Lava-Jato Operation on the financial performance of brazilian companies: an event study

Effects of development aid (grants and loans) on the economic dynamics of the recipient country

US aid, US educated leaders and economic ideology

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