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Politically connected firms in Poland and their access to bank financing

  • Hasan, Iftekhar

    ()

    (BOFIT)

  • Jackowicz, Krzysztof

    ()

    (BOFIT)

  • Kowalewski , Oskar

    ()

    (BOFIT)

  • Kozlowski , Lukasz

    ()

    (BOFIT)

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.

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File URL: http://www.suomenpankki.fi/bofit_en/tutkimus/tutkimusjulkaisut/dp/Documents/2014/dp0214.pdf
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Paper provided by Bank of Finland, Institute for Economies in Transition in its series BOFIT Discussion Papers with number 2/2014.

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Length: 36 pages
Date of creation: 09 Jan 2014
Date of revision:
Handle: RePEc:hhs:bofitp:2014_002
Contact details of provider: Postal: Bank of Finland, BOFIT, P.O. Box 160, FI-00101 Helsinki, Finland
Phone: + 358 10 831 2268
Fax: + 358 10 831 2294
Web page: http://www.suomenpankki.fi/bofit_en/
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  1. Jay Pil Choi & Marcel Thum, 2007. "The Economics of Politically Connected Firms," CESifo Working Paper Series 2025, CESifo Group Munich.
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  21. Oskar Kowalewski & Krzysztof Rybinski, 2011. "The hidden transformation: the changing role of the state after the collapse of communism in Central and Eastern Europe," Oxford Review of Economic Policy, Oxford University Press, vol. 27(4), pages 634-657.
  22. Liu, Jianlei & Uchida, Konari & Gao, Ruidong, 2012. "Political connections and the long-term stock performance of Chinese IPOs," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 22(4), pages 814-833.
  23. MARA FACCIO & RONALD W. MASULIS & JOHN J. McCONNELL, 2006. "Political Connections and Corporate Bailouts," Journal of Finance, American Finance Association, vol. 61(6), pages 2597-2635, December.
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  25. Blau, Benjamin M. & Brough, Tyler J. & Thomas, Diana W., 2013. "Corporate lobbying, political connections, and the bailout of banks," Journal of Banking & Finance, Elsevier, vol. 37(8), pages 3007-3017.
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