Affiliation:
1. Vanderbilt University, Owen Graduate School of Management, 401 21st Avenue South, Nashville, TN 37203.
Abstract
Examination of firms in 47 countries shows a widespread overlap of controlling shareholders and top officers who are connected with national parliaments or governments, particularly in countries with higher levels of corruption, with barriers to foreign investment, and with more transparent systems. Connections are diminished when regulations set more limits on official behavior. Additionally, I show that the announcement of a new political connection results in a significant increase in value.
Publisher
American Economic Association
Subject
Economics and Econometrics
Cited by
2644 articles.
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