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The Political Determinants of the Cost of Equity: Evidence from Newly Privatized Firms

Citations

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Cited by:

  1. Ben-Nasr, Hamdi, 2016. "Labor protection and government control: Evidence from privatized firms," Economic Modelling, Elsevier, vol. 52(PB), pages 485-498.
  2. Yu, Chin-Hsien & Wu, Xiuqin & Zhang, Dayong & Chen, Shi & Zhao, Jinsong, 2021. "Demand for green finance: Resolving financing constraints on green innovation in China," Energy Policy, Elsevier, vol. 153(C).
  3. Hamdi Ben-Nasr & Abdullah Mohammed Al-Dakheel, 2015. "The Impact of Earnings Quality on the Cost of Equity: Evidence from Privatized Firms," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 6(1), pages 68-78, January.
  4. Guedhami, Omrane & Kwok, Chuck C.Y. & Shao, Liang, 2017. "Political freedom and corporate payouts," Journal of Corporate Finance, Elsevier, vol. 43(C), pages 514-529.
  5. Boubakri, Narjess & El Ghoul, Sadok & Guedhami, Omrane & Hossain, Mahmud, 2020. "Post-privatization state ownership and bank risk-taking: Cross-country evidence," Journal of Corporate Finance, Elsevier, vol. 64(C).
  6. Sun, Zixiong & Anderson, Hamish & Chi, Jing, 2023. "Managerial foreign experience and corporate risk-taking: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 86(C).
  7. Alfonsina Iona & Andrea Calef & Ifigenia Georgiou, 2023. "Credit Market Freedom and Corporate Decisions," Mathematics, MDPI, vol. 11(7), pages 1-13, March.
  8. Bruno Emmanuel Ongo Nkoa & Thierry Mamadou Asngar & Charles Christian Atangana Zambo & Donald Ferdinand Okere Atanga, 2023. "Does institutional quality accelerate the growth of financial markets in Africa?," SN Business & Economics, Springer, vol. 3(4), pages 1-26, April.
  9. Bram De Lange & Bruno Merlevede, 2020. "State-Owned Enterprises across Europe: Stylized Facts from a Large Firm-level Dataset," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 20/1006, Ghent University, Faculty of Economics and Business Administration.
  10. Thanh Ngo & Jurica Susnjara, 2020. "Government contracts and US bond yield spreads: A study on costs and benefits of materialized political connections," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 47(7-8), pages 1059-1085, July.
  11. Boubakri, Narjess & Chen, Ruiyuan (Ryan) & El Ghoul, Sadok & Guedhami, Omrane & Nash, Robert, 2020. "State ownership and stock liquidity: Evidence from privatization," Journal of Corporate Finance, Elsevier, vol. 65(C).
  12. Ben-Nasr, Hamdi & Cosset, Jean-Claude, 2014. "State Ownership, Political Institutions, and Stock Price Informativeness: Evidence from Privatization," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 179-199.
  13. Burks, Jeffrey J. & Randolph, David W. & Seida, Jim A., 2019. "Modeling and interpreting regressions with interactions," Journal of Accounting Literature, Elsevier, vol. 42(C), pages 61-79.
  14. De Haas, Ralph & Guriev, Sergei & Stepanov, Alexander, 2022. "State Ownership and Corporate Leverage Around the World," CEPR Discussion Papers 17300, C.E.P.R. Discussion Papers.
  15. Lai, Karen M.Y. & Saffar, Walid & Zhu, Xindong (Kevin) & Liu, Yiye, 2020. "Political institutions, stock market liquidity and firm dividend policy: Some international evidence," Journal of Contemporary Accounting and Economics, Elsevier, vol. 16(1).
  16. Maurizio Bussolo & Simon Commander & Stavros Poupakis, 2023. "Political connections and firms: network dimensions," Oxford Economic Papers, Oxford University Press, vol. 75(1), pages 256-280.
  17. D'Souza, Juliet & Nash, Robert, 2017. "Private benefits of public control: Evidence of political and economic benefits of state ownership," Journal of Corporate Finance, Elsevier, vol. 46(C), pages 232-247.
  18. Chen, Ruiyuan & El Ghoul, Sadok & Guedhami, Omrane & Wang, He, 2017. "Do state and foreign ownership affect investment efficiency? Evidence from privatizations," Journal of Corporate Finance, Elsevier, vol. 42(C), pages 408-421.
  19. Landoni, Matteo, 2020. "Knowledge creation in state-owned enterprises," Structural Change and Economic Dynamics, Elsevier, vol. 53(C), pages 77-85.
  20. Mai, Nhat Chi, 2020. "Impact of Residual State Ownership on Privatised Firm Performance: Evidence from Vietnamese Listed Firms," OSF Preprints j78fy, Center for Open Science.
  21. Habib, Ahsan & Jiang, Haiyan, 2015. "Corporate governance and financial reporting quality in China: A survey of recent evidence," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 24(C), pages 29-45.
  22. Borisova, Ginka & Yadav, Pradeep K., 2015. "Government ownership, informed trading, and private information," CFR Working Papers 15-13, University of Cologne, Centre for Financial Research (CFR).
  23. Pham, Anh Viet, 2019. "Political risk and cost of equity: The mediating role of political connections," Journal of Corporate Finance, Elsevier, vol. 56(C), pages 64-87.
  24. Sha, Yezhou & Qiao, Lu & Li, Suyang & Bu, Ziwen, 2021. "Political freedom and earnings management," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).
  25. Xinyu Yu & Ping Wang, 2020. "Government control and the value of cash: evidence from listed firms in China," Review of Quantitative Finance and Accounting, Springer, vol. 55(4), pages 1341-1369, November.
  26. Grira, Jocelyn & Labidi, Chiraz & Rouatbi, Wael, 2022. "Does political risk matter for sovereign wealth funds? International evidence," International Review of Financial Analysis, Elsevier, vol. 81(C).
  27. Ghouma, Hatem H. & Ouni, Zeineb, 2022. "The sovereign wealth funds risk premium: Evidence from the cost of debt financing," Journal of Corporate Finance, Elsevier, vol. 76(C).
  28. Michael Peneder & Susanne Bärenthaler-Sieber & Michael Böheim & Thomas Url, 2021. "Der Staat als langfristiger Investor," WIFO Studies, WIFO, number 66819, April.
  29. Boubaker, Sabri & Boubakri, Narjess & Grira, Jocelyn & Guizani, Asma, 2018. "Sovereign wealth funds and equity pricing: Evidence from implied cost of equity of publicly traded targets," Journal of Corporate Finance, Elsevier, vol. 53(C), pages 202-224.
  30. Borisova, Ginka & Yadav, Pradeep K., 2015. "Government ownership, informed trading, and private information," Journal of Corporate Finance, Elsevier, vol. 33(C), pages 196-211.
  31. Borisova, Ginka & Fotak, Veljko & Holland, Kateryna & Megginson, William L., 2015. "Government ownership and the cost of debt: Evidence from government investments in publicly traded firms," Journal of Financial Economics, Elsevier, vol. 118(1), pages 168-191.
  32. Anutchanat Jaroenjitrkam & Sakkakom Maneenop & Sirimon Treepongkaruna, 2024. "Corporate governance, policies, and outcomes: The appointment of military connected boards and sustainability," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(1), pages 448-471, January.
  33. Ben-Nasr, Hamdi, 2016. "State and foreign ownership and the value of working capital management," Journal of Corporate Finance, Elsevier, vol. 41(C), pages 217-240.
  34. Amneh Alkurdi & Munther Al-Nimer & Mohammad Dabaghia, 2017. "Accounting Conservatism and Ownership Structure Effect: Evidence from Industrial and Financial Jordanian Listed Companies," International Journal of Economics and Financial Issues, Econjournals, vol. 7(2), pages 608-619.
  35. López-Iturriaga, Félix J. & Santana Martín, Domingo Javier, 2019. "The payout policy of politically connected firms: Tunnelling or reputation?," The North American Journal of Economics and Finance, Elsevier, vol. 50(C).
  36. repec:zbw:bofitp:2019_018 is not listed on IDEAS
  37. Chatterjee, Sris & Gu, Xian & Hasan, Iftekhar & Lu, Haitian, 2019. "Ownership structure and the cost of debt : Evidence from the Chinese corporate bond market," BOFIT Discussion Papers 18/2019, Bank of Finland, Institute for Economies in Transition.
  38. Chui, Andy C.W. & Kwok, Chuck C.Y. & (Stephen) Zhou, Gaoguang, 2016. "National culture and the cost of debt," Journal of Banking & Finance, Elsevier, vol. 69(C), pages 1-19.
  39. Boubakri, Narjess & Guedhami, Omrane & Saffar, Walid, 2016. "Geographic location, foreign ownership, and cost of equity capital: Evidence from privatization," Journal of Corporate Finance, Elsevier, vol. 38(C), pages 363-381.
  40. Lanlan Liu & Dan Luo & Liang Han, 2019. "Default risk, state ownership and the cross-section of stock returns: evidence from China," Review of Quantitative Finance and Accounting, Springer, vol. 53(4), pages 933-966, November.
  41. Saffar, Walid, 2014. "The political economy of share issue privatization: International evidence," Journal of Multinational Financial Management, Elsevier, vol. 24(C), pages 1-18.
  42. Basha, Shabeen Afsar & Bennasr, Hamdi & Goaied, Mohamed, 2023. "Financial literacy, financial development, and leverage of small firms," International Review of Financial Analysis, Elsevier, vol. 86(C).
  43. Jan Hagemejer & Jan Svejnar & Joanna Tyrowicz, 2018. "Are rushed privatizations substandard? Analyzing firm-level privatization under fiscal pressure," GRAPE Working Papers 27, GRAPE Group for Research in Applied Economics.
  44. David M. Kemme & Bhavik Parikh & Tanja Steigner, 2021. "Inequality, autocracy, and sovereign funds as determinants of foreign portfolio equity flows," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 44(2), pages 249-278, June.
  45. Chatterjee, Sris & Gu, Xian & Hasan, Iftekhar & Lu, Haitian, 2019. "Ownership structure and the cost of debt: Evidence from the Chinese corporate bond market," BOFIT Discussion Papers 18/2019, Bank of Finland Institute for Emerging Economies (BOFIT).
  46. Hasan, Mostafa Monzur & Cheung, Adrian (Wai Kong) & Marwick, Trevor, 2022. "Corporate sexual orientation equality policies and the cost of equity capital," Journal of Behavioral and Experimental Finance, Elsevier, vol. 34(C).
  47. He, Feng & Ma, Yaming, 2019. "Do political connections decrease the accuracy of stock analysts' recommendations in the Chinese stock market?," Economic Modelling, Elsevier, vol. 81(C), pages 59-72.
  48. Boubakri, Narjess & El Ghoul, Sadok & Guedhami, Omrane & Megginson, William L., 2018. "The market value of government ownership," Journal of Corporate Finance, Elsevier, vol. 50(C), pages 44-65.
  49. Belkhir, Mohamed & Ben-Nasr, Hamdi, 2016. "Labor protection and the privatization or partial privatization method," International Review of Economics & Finance, Elsevier, vol. 44(C), pages 305-322.
  50. Liu, Yu & Xu, Jian, 2022. "Residual state ownership, foreign ownership and firms' financing patterns," Emerging Markets Review, Elsevier, vol. 51(PA).
  51. Holland, Kateryna, 2019. "Government investment in publicly traded firms," Journal of Corporate Finance, Elsevier, vol. 56(C), pages 319-342.
  52. Hamdi Ben-Nasr, 2015. "Government Ownership and Dividend Policy: Evidence from Newly Privatised Firms," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 42(5-6), pages 665-704, June.
  53. Goyal, Abhinav & Jategaonkar, Shrikant P. & Muckley, Cal B., 2020. "Why do privatized firms pay higher dividends?," Journal of Corporate Finance, Elsevier, vol. 60(C).
  54. Wagner, Rodrigo, 2018. "Can the market value state-owned enterprises without privatizing them? An application to natural resources companies," Resources Policy, Elsevier, vol. 59(C), pages 282-290.
  55. Boubakri, Narjess & Guedhami, Omrane & Kwok, Chuck C.Y. & Wang, He (Helen), 2019. "Is privatization a socially responsible reform?," Journal of Corporate Finance, Elsevier, vol. 56(C), pages 129-151.
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