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- Title
Differences between Politically Connected and Nonconnected Firms: A Cross-Country Analysis.
- Authors
Faccio, Mara
- Abstract
Evidence from firms in 47 countries shows that companies with political connections have higher leverage and higher market shares, but they underperform compared to nonconnected companies on an accounting basis. Differences between connected and unconnected firms are more pronounced when political links are stronger. Differences also vary depending on the level of corruption and the degree of economic development in individual countries.
- Subjects
MARKET penetration; INDUSTRIAL concentration; MARKET share; ECONOMIC expansion; ECONOMIC indicators
- Publication
Financial Management (Wiley-Blackwell), 2010, Vol 39, Issue 3, p905
- ISSN
0046-3892
- Publication type
Article
- DOI
10.1111/j.1755-053X.2010.01099.x