Artikel
Politically connected firms in Spain
The goal of this study is to analyze the incidence of dominant owners in the probability of the presence of political directors and the effect of said presence on firm value. The study uses a sample of non-financial Spanish companies listed on the Spanish Stock Exchange over the period 2003–2012. The results show that around half of the firms have at least one ex-politician on their board of directors. Furthermore, the results indicate that dominant shareholders’ voting rights and family nature have a negative effect on the likelihood of having ex-politicians on the board of directors. Moreover, the results show that the presence of political connections positively affects firm value. Further analyses show that this relationship is dependent upon the nature of the dominant owner, the use of pyramidal structures, the tenure of board members and the political directors’ ownership stake."
- Sprache
-
Englisch
- Erschienen in
-
Journal: BRQ Business Research Quarterly ; ISSN: 2340-9436 ; Volume: 18 ; Year: 2015 ; Issue: 4 ; Pages: 230-245 ; Barcelona: Elsevier España
- Klassifikation
-
Management
- Thema
-
Political connections
Politicians
Dominant owners
Board of directors
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Guerra Pérez, Silvia
Bona Sánchez, Carolina
Santana Martín, Domingo Javier
- Ereignis
-
Veröffentlichung
- (wer)
-
Elsevier España
- (wo)
-
Barcelona
- (wann)
-
2015
- DOI
-
doi:10.1016/j.brq.2014.10.002
- Handle
- Letzte Aktualisierung
- 10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Guerra Pérez, Silvia
- Bona Sánchez, Carolina
- Santana Martín, Domingo Javier
- Elsevier España
Entstanden
- 2015
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