Publication:

Political patronage and firm performance: further evidence from Malaysia

Show simple item record
DC FieldValue
dc.contributor.authorHassan, Taufiq
dc.contributor.authorHassan, M. Kabir
dc.contributor.authorChen, Chaw Min
dc.contributor.authorShamsher Mohamad Ramadili Mohd
dc.date.accessioned2016-06-06
dc.date.accessioned2016-07-25T20:05:49Z
dc.date.available2016-06-06
dc.date.available2016-07-25T20:05:49Z
dc.date.disclosure2016-06-10
dc.date.issued2012
dc.description.abstractThis paper investigates the characteristics, performance, and share price reaction of politically connected firms versus a control sample of independent firms in Malaysia. Politically connected firms had higher level of leverage, lower profitability, and lower sales to profitability, and paid lower taxes and lower dividends compared to independent firms. Their share prices increase with the announcement of favorable political events. In terms of performance, the active rent-seeking activities in return for preferential treatment produce comparable performance to independent firms during an economic upturn. However, their performance deteriorates more than independent firms during an economic downturn. The percentage of ownership of government institutions in politically connected firms is also much lower, and these firms use more Tier 1 auditors than the independent firms. Overall, the findings are consistent with expectations and evidence from similar studies in developed and developing economies
dc.identifier.citationHassan, Taufiq and Hassan, M. Kabir and Ramadili Mohd, Shamsher Mohamad and Chen, Chaw Min. (2012). Political patronage and firm performance: further evidence from Malaysia. Thunderbird International Business Review, 54 (3), pp. 373–393.
dc.identifier.doihttps://doi.org/10.1002/tie.21468
dc.identifier.urihttps://ikr.inceif.edu.my/handle/INCEIF/1435
dc.languageEnglish
dc.language.isoeng
dc.publisherWiley
dc.rights2012. Wiley
dc.sourceCRP
dc.subjectPolitical patronage
dc.subjectFirm performance
dc.subjectFirms
dc.subjectMalaysia
dc.titlePolitical patronage and firm performance: further evidence from Malaysia
dc.typeJournal Article
dlc.maintopicConventional finance
dlc.subtopicEconomics
dspace.entity.typePublication
ikr.doctypeScholarly Works
ikr.topic.maintopicConventional finance
ikr.topic.subtopicConventional finance
relation.isAuthorOfPublication33b91dde-0170-454c-8f2b-ec4b208837b9
relation.isAuthorOfPublication33b91dde-0170-454c-8f2b-ec4b208837b9
relation.isAuthorOfPublication33b91dde-0170-454c-8f2b-ec4b208837b9
relation.isAuthorOfPublication.latestForDiscovery33b91dde-0170-454c-8f2b-ec4b208837b9
Appears in Collections
Journal Article
Files

Abstract View

2661680

View & Download

177422