The value of local political capital in transition China

被引：25

作者：

Sun, Pei ^{[1
]}

Xu, Haoping ^{[1
]}

Zhou, Jian ^{[2
]}

机构：

[1] Fudan Univ, Sch Management, Shanghai 200433, Peoples R China

[2] SUNY Binghamton, Sch Management, Binghamton, NY 13901 USA

来源：

ECONOMICS LETTERS | 2011年 / 110卷 / 03期

关键词：

Political connections; Political capital; Transition; China; PRIVATIZED FIRMS; CONNECTIONS; PERFORMANCE; GOVERNANCE;

D O I：

10.1016/j.econlet.2010.11.016

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper documents stock market responses to the arrest of Shanghai's top leader by the Chinese central government in September 2006. The effects of personal-level and organizational-level connections to the local state are found to be negative and insignificant, respectively, on cumulative abnormal returns (CARs). Furthermore, companies having both personal and organizational political ties experienced the most adverse market reaction. (C) 2010 Elsevier B.V. All rights reserved.

引用

页码：189 / 192

页数：4

共 50 条

[21] Political uncertainty and corporate working capital in China
Yu, Wei
Jia, Jianjun
Zheng, Ying
REVIEW OF QUANTITATIVE FINANCE AND ACCOUNTING, 2023, 61 (03) : 927 - 966
[22] Loyalty and Competence: The Political Selection of Local Cadres in China
Jia, Linan
CHINA QUARTERLY, 2022, 251 : 726 - 750
[23] Chinese Communist Youth League, political capital and the legitimising of volunteering in China
Xu, Ying
INTERNATIONAL JOURNAL OF ADOLESCENCE AND YOUTH, 2012, 17 (2-3) : 95 - 112
[24] Electoral Communication: The transition from marketing to political capital
Jacome Santos, Verni Leonardo
Duenas Espinoza, Francisco Xavier
Mera Alvarez, Manuel
REVISTA SAN GREGORIO, 2015, (10): : 22 - 31
[25] Political Capital Imbalance Between University Leaders and University Academic Publications: Evidence from Elite Universities in China
Liu, Bin
Qian, Gongming
Shen, Yuting
Shen, Chen
HIGHER EDUCATION POLICY, 2024, 37 (04) : 848 - 870
[26] Foreign venture capital investing strategies in transition economies: The case of China
Wang, Jiani
Chen, Su
Scheela, William
ASIA PACIFIC JOURNAL OF MANAGEMENT, 2023, 40 (04) : 1481 - 1524
[27] Political capital and physical capital: Substitute or complement? Evidence from China's anti-corruption campaign
Cheng, Lei
EMERGING MARKETS REVIEW, 2022, 51
[28] Political capital and stardom in China: the transnational persona of Choo Ja-hyun
Chung, Elaine
CELEBRITY STUDIES, 2024,
[29] Demystifying the dark side of board political capital
Leung, T. Y.
Sharma, Piyush
JOURNAL OF BUSINESS RESEARCH, 2021, 126 : 307 - 318
[30] Can political capital drive corporate green innovation? Lessons from China
Lin, H.
Zeng, S. X.
Ma, H. Y.
Qi, G. Y.
Tam, Vivian W. Y.
JOURNAL OF CLEANER PRODUCTION, 2014, 64 : 63 - 72

← 1 2 3 4 5 →