Political Connections And Preferential Access To Finance
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Author | : Stijn Claessens |
Publisher | : |
Total Pages | : 61 |
Release | : 2017 |
Genre | : |
ISBN | : |
Using novel indicators of political connections constructed from campaign contribution data, we show that Brazilian firms that provided contributions to (elected) federal deputies experienced higher stock returns around the 1998 and 2002 elections. This suggests contributions help shape policy on a firm-specific rather than ideological basis. Using a firm fixed effects framework to mitigate the risk that unobserved firm characteristics distort the results, we find that contributing firms substantially increased their bank leverage relative to a control group after each election, indicating that access to bank finance is an important channel through which political connections operate. We estimate the economic costs of these political connections over the two election cycles to be at least 0.2% of GDP per annum.
Author | : Stijn Claessens |
Publisher | : |
Total Pages | : 56 |
Release | : 2007 |
Genre | : Business and politics |
ISBN | : |
Author | : Stijn Claessens |
Publisher | : |
Total Pages | : 56 |
Release | : 2007 |
Genre | : |
ISBN | : |
Author | : Samuel O. Idowu |
Publisher | : Springer |
Total Pages | : 0 |
Release | : 2013-01-27 |
Genre | : Business & Economics |
ISBN | : 9783642280351 |
The role of Corporate Social Responsibility in the business world has developed from a fig leaf marketing front into an important aspect of corporate behavior over the past several years. Sustainable strategies are valued, desired and deployed more and more by relevant players in many industries all over the world. Both research and corporate practice therefore see CSR as a guiding principle for business success. The “Encyclopedia of Corporate Social Responsibility” has been conceived to assist researchers and practitioners to align business and societal objectives. All actors in the field will find reliable and up to date definitions and explanations of the key terms of CSR in this authoritative and comprehensive reference work. Leading experts from the global CSR community have contributed to make the “Encyclopedia of Corporate Social Responsibility” the definitive resource for this field of research and practice.
Author | : Hernando de Soto |
Publisher | : |
Total Pages | : 271 |
Release | : 1989 |
Genre | : Black market |
ISBN | : 9781850431442 |
Author | : Mark Petticrew |
Publisher | : John Wiley & Sons |
Total Pages | : 352 |
Release | : 2008-04-15 |
Genre | : Psychology |
ISBN | : 1405150149 |
Such diverse thinkers as Lao-Tze, Confucius, and U.S. Defense Secretary Donald Rumsfeld have all pointed out that we need to be able to tell the difference between real and assumed knowledge. The systematic review is a scientific tool that can help with this difficult task. It can help, for example, with appraising, summarising, and communicating the results and implications of otherwise unmanageable quantities of data. This book, written by two highly-respected social scientists, provides an overview of systematic literature review methods: Outlining the rationale and methods of systematic reviews; Giving worked examples from social science and other fields; Applying the practice to all social science disciplines; It requires no previous knowledge, but takes the reader through the process stage by stage; Drawing on examples from such diverse fields as psychology, criminology, education, transport, social welfare, public health, and housing and urban policy, among others. Including detailed sections on assessing the quality of both quantitative, and qualitative research; searching for evidence in the social sciences; meta-analytic and other methods of evidence synthesis; publication bias; heterogeneity; and approaches to dissemination.
Author | : Abdullah Al-Hassan |
Publisher | : International Monetary Fund |
Total Pages | : 47 |
Release | : 2010-04-01 |
Genre | : Business & Economics |
ISBN | : 1451982615 |
In this paper, we analyze the evolution of the Gulf Cooperation Council (GCC) banking sectors in the six member countries including ownership, concentration, cross-border linkages, balance sheet exposures and risks, recent trends in credit growth, and financial soundness. We identify risks to the banking sector's financial stability in the context of the current global crisis and their mitigating factors.
Author | : Mr.Thierry Tressel |
Publisher | : International Monetary Fund |
Total Pages | : 72 |
Release | : 2009-12-01 |
Genre | : Business & Economics |
ISBN | : 1451874324 |
Using detailed information on lobbying and mortgage lending activities, we find that lenders lobbying more on issues related to mortgage lending (i) had higher loan-to-income ratios, (ii) securitized more intensively, and (iii) had faster growing portfolios. Ex-post, delinquency rates are higher in areas where lobbyist' lending grew faster and they experienced negative abnormal stock returns during key crisis events. The findings are robust to (i) falsification tests using lobbying on issues unrelated to mortgage lending, (ii) a difference-in-difference approach based on state-level laws, and (iii) instrumental variables strategies. These results show that lobbying lenders engage in riskier lending.
Author | : Everett Crawford |
Publisher | : |
Total Pages | : 13 |
Release | : 1983 |
Genre | : Manpower policy |
ISBN | : |
Author | : Austen-Smith, David |
Publisher | : London, Ont. : Political Economy Research Group, University of Western Ontario |
Total Pages | : 144 |
Release | : 1995 |
Genre | : |
ISBN | : 9780771417771 |