scholarly journals Political connections and preferential access to finance: The role of campaign contributions

2008 ◽  
Vol 88 (3) ◽  
pp. 554-580 ◽  
Author(s):  
Stijn Claessens ◽  
Erik Feijen ◽  
Luc Laeven
Keyword(s):  
Campaign Contributions ◽  
Political Connections ◽  
Access To Finance ◽  
Preferential Access

scholarly journals Ecofeminism and Natural Resource Management: Justice Delayed, Justice Denied

2021 ◽  
Vol 13 (13) ◽  
pp. 7319
Author(s):  
Yang Liu ◽  
Muhammad Khalid Anser ◽  
Khalid Zaman
Keyword(s):  
Mineral Resource ◽  
Natural Resource ◽  
Access To Finance ◽  
Positive Role ◽  
Women’S Autonomy ◽  
Ecological Footprints ◽  
Women's Autonomy ◽  
Resource Rents

Women have a right to excel in all spheres of activity. However, their roles are mainly confined in the resource extraction industry due to masculinity bias. African women are considered exemplary cases where women have low access to finance and economic opportunities to progress in the natural resource industry. This study examines the role of women’s autonomy in mineral resource extraction by controlling ecological footprints, financial development, environmental degradation, economic growth, and changes in the general price level in the Democratic Republic of the Congo data from 1975–2019. The autoregressive distributed lag estimates show that in the short-run, women’s autonomy decreases mineral resource rents; however, this result disappears in the long-run and the positive role of women’s autonomy in increasing resource capital is confirmed. Ecological footprints are in jeopardy from saving mineral resources both in the short- and long-term. Financial development negatively impacts mineral resource rents, while women’s access to finance supports the mineral resource agenda. The positive role of women in environmental protection has led to increased mineral resource rents in the short- and long-term. Women’s social and economic autonomy increases mineral resource rents in the short-term, while it has evaporated in the long-term. The Granger causality has confirmed the unidirectional linkages running from women’s green ecological footprints, access to finance, and women participating in environmental protection to mineral resource rents in a country. The variance decomposition analysis has shown that women’s economic autonomy and access to finance will exert more significant variance shocks to mineral resource rents over the next ten years’ period. The results conclude the positive role of women’s freedom in the mineral resource sustainability agenda. Thus, there is a high need to authorize women through access to finance and economic decisions to restore natural resource capital nationwide.

scholarly journals Access to Finance, Financial Development and Firm Performance – Evidence from Pakistan

2020 ◽  
pp. 49-68
Author(s):  
Waqas Ahmad ◽  
Zaheer Abbas ◽  
Zulfiqar Ali Shah
Keyword(s):  
Firm Performance ◽  
Financial Development ◽  
Financial Constraints ◽  
Small And Medium Enterprises ◽  
Labour Productivity ◽  
Fixed Effect Model ◽  
Access To Finance ◽  
Medium Enterprises ◽  
The Impact

Purpose- The aim of the study is to investigate the impact of financial constraints on firm performance. The role of financial development in reducing financial constraints is also investigated. Design/methodology/approach- Data from two waves of World Bank Enterprise Surveys from 2007 to 2013 was used to construct the required variables. A balanced sample of 427 firms was selected and a fixed-effect model was used for empirical estimations. Findings- The findings indicate the significance of access to finance in terms of explaining firm performance. Improvement in access to finance led to subsequent improvement in firm performance as measured by labour productivity. The role of financial development in reducing credit constraints is not as expected. The concentration of lending to the private sector in the hands of large corporations at the expense of small and medium enterprises could be the reason for such a result. Originality/value – Most of the work in this area is focused on large listed firms. The present study focused primarily on small and medium-sized enterprises in Pakistan. Multiple measures of financial constraints and firm performance were used for robustness. The investigation also covers the role of financial development and its microeconomic implications at the level of an enterprise.

scholarly journals Wanted: A Revolution in Agriculture

2021 ◽  
pp. 97-122
Author(s):  
Jakkie Cilliers
Keyword(s):  
Food Security ◽  
Foreign Exchange ◽  
Modern Technology ◽  
Access To Finance ◽  
Significant Potential ◽  
Health And Nutrition ◽  
Current Path ◽  
The Impact ◽  
Improve Health

AbstractAgriculture is the backbone of many African economies. Cilliers explores the history and role of agriculture in development, and the likely future trajectory of agriculture in Africa along the Current Path, drawing lessons from other regions. Improvements in this sector, particularly access to finance and use of modern technology can unlock the significant potential to achieve food security, improve health and nutrition outcomes, create agribusiness ventures that influence employment, earn foreign exchange through exports and promote economic prosperity. The chapter concludes with a scenario that emulates the impact of a revolution in agriculture on food security and growth.

Moroccan Cronyism

2019 ◽  
pp. 146-170
Author(s):  
Mohammed Said Saadi
Keyword(s):  
Political Economy ◽  
Manufacturing Sector ◽  
Import Substitution ◽  
The State ◽  
Foreign Competition ◽  
Access To Finance ◽  
Economic Sphere ◽  
Countervailing Power ◽  
Preferential Access ◽  
Political Connectedness

This chapter looks at cronyism as a pillar of Morocco’s political economy and studies its manifestation and impact in the manufacturing sector. Cronyism and patronage have helped the Makhzen to strengthen its control on Moroccan society and prevent any countervailing power from taking root, especially in the economic sphere. After Morocco became independent, the state–business nexus was consolidated through “Moroccanization,” import-substitution strategy, and privatization. The network of cronyism and patronage was reinforced and extended during the liberalization era. This chapter uses a unique database to identify politically connected firms and measure their performance in comparison with non-connected ones. Political privileges are granted to connected firms through preferential access to finance, protection from foreign competition, and discriminatory implementation of rules and regulations. This chapter also provides some illustrative evidence showing that political connectedness tends to impede firms’ dynamics and innovation.

scholarly journals Political connections: a threat to auditor independence?

2015 ◽  
Vol 5 (2) ◽  
pp. 222-246 ◽  
Author(s):  
Effiezal Aswadi Abdul Wahab ◽  
Mazlina Mat Zain ◽  
Rashidah Abdul Rahman
Keyword(s):  
Design Methodology ◽  
Institutional Environment ◽  
Audit Fees ◽  
Auditor Independence ◽  
Political Connections ◽  
Panel Regression ◽  
Data Set ◽  
Content Type ◽  
The Relationship

Purpose – The purpose of this paper is to examine whether political connections further impair auditor independence by investigating the relationship between non-audit fees and audit fees and as to whether political connections moderate such relationship. Design/methodology/approach – This study employs panel regression analysis. The panel data set consists of 379 firm-year observations for three years from year 2001 to 2003. Findings – Based on 379 firm-year observations for the period of 2001-2003, grounded on two proxies of political connections namely politically connected firms and the proportion of Bumiputras directors, the authors find a positive and significant relationship between non-audit fees and audit fees, and the relationship becomes weaker, only for Bumiputra-dominated firms connected firms. Originality/value – This study contributes to the extant literature by examining the role of political connections in the context of auditor independence. In addition, this study is conducted in Malaysia, which provides a unique institutional environment with the existence of political connections that is built on ethnic grounds.

The Contingent Value of Political Connections on Donations to Chinese Foundations: Exploring the Moderating Role of Transparency

2020 ◽  
Vol 53 (1) ◽  
pp. 36-63
Author(s):  
Yuan Cheng ◽  
Zhongsheng Wu
Keyword(s):  
Multilevel Analysis ◽  
Theoretical Framework ◽  
Political Connections ◽  
Different Types ◽  
The Relationship ◽  
Moderating Role

Existing studies assume that the value of political connections is homogeneous to different types of nonprofits and seldom consider their interplay with other accountability mechanisms. Based on a multilevel analysis of 2,085 foundations in China, this study builds and tests a theoretical framework of the contingent value of political connections to nonprofits, treating transparency as a moderator for the relationship between political connections and donations. Our findings suggest that while transparency is positively associated with the amount of donations obtained by foundations, political connections can help foundations obtain more donations only when their transparency score is higher than a certain threshold.

scholarly journals The Role of Political Connections on Family Firms’ Performance: Evidence from Indonesia

2019 ◽  
Vol 7 (4) ◽  
pp. 55 ◽  
Author(s):  
Iman Harymawan ◽  
Mohammad Nasih ◽  
Muhammad Madyan ◽  
Diarany Sucahyati
Keyword(s):  
Family Firms ◽  
Stock Exchange ◽  
Least Square ◽  
Political Connections ◽  
Family Ownership ◽  
Ols Regression ◽  
Ordinary Least Square ◽  
Relationship Of ◽  
The Relationship

The purpose of this study is to investigate the relationship of firms with family ownership and their performance in Indonesia and further examine on how political connections affect this relationship. This study used 933 samples from 413 companies listed on the Indonesia Stock Exchange (IDX) in the period between 2014 and 2016. Using ordinary least square (OLS) regression, the results shows that firms without family ownership (non-family firms) have better performance than firms with family ownership (family firms) in Indonesia. Furthermore, the findings also show that the performance of family firms significantly improve when the firms are affiliated with political connections. Our findings imply that establishing political connections in family firms will increase the performance of the firms.

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