Political influence, firm performance and survival

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dc.contributor Bank of Finland
dc.contributor.author Sokolov, Vladimir
dc.contributor.author Solanko, Laura
dc.date.accessioned 2016-12-27T13:32:10Z
dc.date.available 2016-12-27T13:32:10Z
dc.date.issued 2016
dc.identifier.isbn 978-952-323-142-9
dc.identifier.issn 1456-5889
dc.identifier.uri https://helda.helsinki.fi/bof/handle/123456789/14453
dc.description.abstract We examine how regional-level political influence affects firm financial performance and survival. Combining representative survey data on mid-sized manufacturing firms in Russia with official registry data, we find that politically influential firms exhibit higher profitability and retain larger financial investments than non-influential firms. At the same time, we find no association between regional political influence and access to bank lending. Most importantly, our empirical analysis suggests that the benefits of influence may be transient. Influential firms experienced significantly lower growth during our 2004–2010 sample period than non-influential firms. Moreover, influential firms had a significantly higher probability of going bankrupt after the 2008 global financial crisis than non-influential firms.
dc.format.extent 37
dc.language.iso ENG
dc.rights https://helda.helsinki.fi/bof/copyright
dc.subject Bofit-kokoelma
dc.subject SP
dc.subject RP ST
dc.subject Venäjä
dc.subject.other political influence
dc.subject.other firm performance
dc.subject.other firm survival
dc.subject.other government quality
dc.subject.other Russia
dc.title Political influence, firm performance and survival
dc.type Paper
dc.identifier.urn URN:NBN:fi:bof-201612271553
dc.subject.jel D22
dc.subject.jel D72
dc.subject.jel G38
dc.series.name BOFIT Discussion Papers
dc.series.year 2016
dc.series.number 20/2016
dc.series.sortingnumber 0020
dc.date.publication 22.12.2016
dc.subject.yso yritykset (toiminta)
dc.subject.yso aluetalous
dc.subject.yso poliittinen kulttuuri
dc.subject.yso hallinto
dc.contributor.orgunit Institute for Economies in Transition (BOFIT)
bof-internal.includedInCRIS 1
dc.type.okm D4

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