IDEAS home Printed from https://ideas.repec.org/a/oup/crimin/v63y2023i3p765-783..html
   My bibliography  Save this article

US Immigration Politics, Sanctions Threats and Private Prison Corporations’ Stock Market Values

Author

Listed:
  • Jihye Park

Abstract

Although politics play pivotal roles in the emergence and operation of private prison corporations (PPCs), less is known about the effects of politics on PPCs’ financial performance. This paper examines the economic consequences of US immigration politics on PPCs using stock market data. Results show that PPCs benefit from restrictive immigration politics through increased stock values and certainty of future profitability. In contrast, their stock values are more likely to fall when the federal government announces sanctions threats on PPCs. These immigration politics only shape PPCs because of their unique business partnership with governments, but do not have meaningful impacts on private security companies that hold weak commercial interests in immigration politics. Finally, this study offers policy implications by revealing consequential effects of national-level politics on PPCs’ financial performance, suggesting future directions for federal roles in regulating PPCs.

Suggested Citation

  • Jihye Park, 2023. "US Immigration Politics, Sanctions Threats and Private Prison Corporations’ Stock Market Values," The British Journal of Criminology, Centre for Crime and Justice Studies, vol. 63(3), pages 765-783.
    • Handle: RePEc:oup:crimin:v:63:y:2023:i:3:p:765-783.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1093/bjc/azac057
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:crimin:v:63:y:2023:i:3:p:765-783.. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://academic.oup.com/bjc .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.