Do Politically Connected Boards Affect Firm Value

By Eitan Moshe Goldman, Jörg Rocholl, Jongil So. 2009

1,316 citations recorded by the source corpus.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/38127c283bdf6f17faa465f998989f4987f997a5

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Citations in the corpus

The Corporate Value of (Corrupt) Lobbying (2016, positive): “Our paper also contributes to the growing literature on political connections (Roberts (1990), Fisman (2001), Khwaja and Mian (2005), Faccio (2006), Faccio, Masulis, and McConnell (2006), and Goldman, Rocholl, and So (2009, 2013)).”
Government Connections and Financial Constraints: Evidence from a Large Representative Sample of Chinese Firms (2013, neutral): “…and Oberholzer-Gee (2006), Faccio 2006, Li et al. (2008), Claessens et al. (2008), Boubakri et al. (2008), Fan et a. (2008), Faccio et al. 2009, Goldman et al. (2009), Cooper et al. (2010), Berkman et al. (2010), Calomiris et al. (2010), Francis et al. (2009), Du and Girma (2010), Wu et al.…”
Institutional Investors, Political Connections, and the Incidence of Regulatory Enforcement Against Corporate Fraud (2014, background): “Ties with the government help firms to gain comparative advantages that enhance firm performance and value (Fan et al. 2008; Fisman 2001; Goldman et al. 2009; Johnson and Mitton 2003; Millar et. al 2005; Wu et al. 2012a, b).”
Board Expertise: Do Directors from Related Industries Help Bridge the Information Gap? (2014, neutral): “…advice and shows, for instance, that directors are particularly sought for advice when the firm is complex or when they can provide contacts, financial expertise, and political influence (e.g., Coles, Daniel, and Naveen 2008; Güner, Malmendier, and Tate 2008; Goldman, Rocholl, and So 2009, 2013).”
High-level politically connected firms, corruption, and analyst forecast accuracy around the world (2010, background): “For a robustness check we broaden the definition of political connection by following Goldman, Rocholl, and So (2009), which includes an examination of all members of the board of directors, and classifies a firm as connected if any one member of the board is politically connected.”
Are Red or Blue Companies More Likely to Go Green? Politics and Corporate Social Responsibility (2014, neutral): “…performance of CEO characteristics (e.g., Bertrand and Schoar, 2003; Malmendier and Tate, 2005), outside director characteristics (e.g., Weisbach, 1988; Yermack, 2004; Goldman, Rocholl, and So, 2009; Krüger, 2010), and founder effects (e.g., Fahlenbrach, 2009; Adams, Almeida, and Ferreira, 2009).”
Corporate Political Contributions and Stock Returns (2010, background): “Goldman, Rocholl, and So (2009) find that individual firms connected to the U.S. Republican Party increased in value after the Republican win in the 2000 Presidential elections.”
In Search of El Dorado: The Elusive Financial Returns on Corporate Political Investments (2013, background): “Lastly, the value of politically tied directors may fluctuate based on political events, such as a change of the political party in power, which lie beyond firms’ control (Goldman et al., 2009).”
Advancing the Empirical Research on Lobbying (2014, background): “The paper does not cover the literature on the structure and value of political connections (e.g. Faccio 2006; Goldman et al. 2009) outside of the purely lobbying context.”