Chinese Firms’ Political Connection, Ownership, and Financing Constraints
AbstractWe empirically examine some listed Chinese firms’ political connection, ownership, and financing constraints. Politically-connected firms display no financing constraints whereas firms without connection experience significant constraints. Non-connected family-controlled firms bear greater constraints than non-connected state-owned firms.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 35221.
Date of creation: Nov 2011
Date of revision:
Political connection; investments; financing constraints; Chinese firms;
Find related papers by JEL classification:
- G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
- G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
- E22 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
- O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-12-13 (All new papers)
- NEP-POL-2011-12-13 (Positive Political Economics)
- NEP-TRA-2011-12-13 (Transition Economics)
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