Arbeitspapier
Business Networks and Crisis Performance: Professional, Political, and Family Ties
Previous research on firm performance does not adequately account for the interrelatedness of a firm's professional connections, political ties, and family business-group affiliation. Many widely-cited findings may therefore be subject to confounding bias. To address this problem, we adopt a holistic approach by assembling a new dataset covering professional, political, and family networks for 1,290 large East Asian firms. We find that professional networks buoyed performance during the 2008 financial crisis; political and family networks did not. We provide evidence that information access is a key mechanism underlying the effect of professional networks. A one standard deviation improvement to a firm's professional network position cushioned the fall in quarterly ROA by approximately 35% during the crisis.
- Sprache
-
Englisch
- Erschienen in
-
Series: Tinbergen Institute Discussion Paper ; No. 15-135/V
- Klassifikation
-
Wirtschaft
Information and Market Efficiency; Event Studies; Insider Trading
Transactional Relationships; Contracts and Reputation; Networks
- Thema
-
networks
political connections
interlocking directorates
family ownership
corporate governance
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Carney, Richard W.
Child, Travers Barclay
- Ereignis
-
Veröffentlichung
- (wer)
-
Tinbergen Institute
- (wo)
-
Amsterdam and Rotterdam
- (wann)
-
2015
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Carney, Richard W.
- Child, Travers Barclay
- Tinbergen Institute
Entstanden
- 2015
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