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Politically connected firms in Poland and their access to bank financing

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  • Hasan, Iftekhar
  • Jackowicz, Krzysztof
  • Kowalewski, Oskar
  • Kozlowski, Lukasz

Abstract

This study investigates the relationship between politically connected firms and their access to bank financing in a post-communist eras in Poland. Overall, it finds that "recent" political connections do influence access to bank financing and the value of such connections increased during the financial crisis. However, it also observes that the positive relationship mentioned above is substantially weaker in Poland relative to other emerging countries and we attribute this phenomenon to the instability of the Polish political climate. Keywords: political connections, bank financing, global financial crisis JEL: GO1, G18, G32

Suggested Citation

  • Hasan, Iftekhar & Jackowicz, Krzysztof & Kowalewski, Oskar & Kozlowski, Lukasz, 2014. "Politically connected firms in Poland and their access to bank financing," BOFIT Discussion Papers 2/2014, Bank of Finland, Institute for Economies in Transition.
  • Handle: RePEc:bof:bofitp:2014_002
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    Cited by:

    1. Jackowicz, Krzysztof & Kozłowski, Łukasz & Mielcarz, Paweł, 2014. "Political connections and operational performance of non-financial firms: New evidence from Poland," Emerging Markets Review, Elsevier, vol. 20(C), pages 109-135.
    2. repec:fau:fauart:v:68:y:2018:i:2:p:120-143 is not listed on IDEAS
    3. repec:eco:journ1:2017-03-25 is not listed on IDEAS
    4. repec:agr:journl:v:xxv:y:2018:i:special:p:197-208 is not listed on IDEAS
    5. Hasan, Iftekhar & Jackowicz, Krzysztof & Kowalewski, Oskar & Kozlowski, Lukasz, 2013. "Politically Connected Firms in Poland and Their Access to Bank Financing," Working Papers 13-37, University of Pennsylvania, Wharton School, Weiss Center.
    6. repec:agr:journl:v:xxv:y:2018:i:special:p:175-196 is not listed on IDEAS

    More about this item

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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