Political connections, financing and firm performance: Evidence from Chinese private firms ☆

By Hongbin Li, Lingsheng Meng, Qian Wang, Li-an Zhou. 2008

1,746 citations recorded by the source corpus.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/60f659d926a1accdb812fb63fc222a536f4add01

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Citations in the corpus

In the name of charity: Political connections and strategic corporate social responsibility in a transition economy (2015, background): “, Faccio, 2006, 2010) to enjoy benefits such as less taxation (De Soto, 1989) , privileged access to debt financing from government-controlled banks (Fan et al., 2008; Li et al., 2008), and relaxed government oversight (Agrawal and Knoeber, 2001; De Soto, 1989).”
Politicians at Work: The Private Returns and Social Costs of Political Connections (2013, neutral): “Faccio (2006a) and Li et al. (2008) also focus on different outcomes and channels, respectively.”
Corruption and firm growth: Evidence from China☆ (2012, background): “This may be experienced by the private-owned rms rather than the state-owned ones as the latter have already established close relationships with the government.24 Li et al. (2008) also demonstrates that government imposes heavy regulations (red tape) on private rms in China.”
Political connections and corporate investments: Evidence from the recent anti-corruption campaign in China (2017, background): “…are effective in helping firms to overcome the disadvantages of these financing constraints, and are significantly associated with more domestic financing or higher levels of leverage (Leuz and Oberholzer-Gee, 2006; Claessens et al., 2008; Li et al., 2008; Faccio, 2010; Piotroski and Zhang, 2014).”
Political Connectedness and Court Outcomes: Evidence from Chinese Corporate Lawsuits (2015, background): “…gain market advantage in countries with weak institutions, which enhances firm value and performance (Fisman 2001; Goldman, Rocholl, and So 2009; Li et al. 2008).4 Other literature, however, shows that there is a political cost (Lin and Li 2008) and finds that connected firms underperform…”
China's 'Mercantilist' Government Subsidies, the Cost of Debt and Firm Performance (2018, methodology): “Using ROA and ROE as the performance measures, Li et al. (2008) find evidence that political connections tend to enhance firm value.”
The impact of government subsidies and enterprises’ R&D investment: A panel data study from renewable energy in China (2016, background): “Further, we found that a firm’s political background and network also demonstrates an important role in obtaining other types of funding, such as bank loans (Li et al., 2008).”