|Title:||Can political and business connections alleviate financial constraints?||Authors:||Yen J.-F.
|Keywords:||directorships;financial constraints;political and business connections;trade associations||Issue Date:||2014||Journal Volume:||21||Journal Issue:||8||Start page/Pages:||550-555||Source:||Applied Economics Letters||Abstract:||
This article examines the relationship between political and business connections (PBCs) and firms' financial constraints. We proxy a firm's PBCs by whether or not the firm's CEO should hold a directorship in major trade organizations. Using an endogenous switching regression model, we find that firms with a connected CEO are less likely to be classified as financially constrained firms. Our results can provide a possible explanation why firms allow their CEOs to hold directorships in trade associations. ? 2014 Taylor & Francis.
|Appears in Collections:||財務金融學系|
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