Property rights, political connections, and corporate investment

被引：0

作者：

Miao, Meng ^{[1
,4
]}

Tang, Dragon Yongjun ^{[2
]}

Xu, Lixin Colin ^{[3
]}

Yan, Xiao ^{[1
]}

机构：

[1] Renmin Univ China, Sch Finance, 59 Zhongguncun St, Beijing, Peoples R China

[2] Univ Hong Kong, Fac Business & Econ, Pokfulam Rd, Hong Kong, Peoples R China

[3] Cheung Kong Grad Sch Business, Beijing, Peoples R China

[4] Renmin Univ China, 59 Zhongguncun St, Beijing 100872, Peoples R China

来源：

REVIEW OF FINANCE | 2024年 / 28卷 / 02期

关键词：

property rights; political connections; investment; D23; P14; P26; E22; TENURE SECURITY; FIRM PERFORMANCE; LAND TITLES; CHINA; INSTITUTIONS; FINANCE; DETERMINANTS; CONSTRAINTS; PERSISTENCE; INCENTIVES;

D O I：

10.1093/rof/rfad029

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We study the impact of an urban land titling program on firm investment in Shenzhen, China. We find that this program increased the investment rate for titling firms, but this positive effect only holds for politically connected firms. Further analysis suggests that the titling effect is more pronounced for those titling firms associated with greater expropriation risk. During program implementation, the connected titling firms increased their investment perhaps because, as observed, they experienced fewer disputes than non-connected titling firms.

引用

页码：593 / 619

页数：27

共 50 条

[21] Property rights and investment in urban slums
Field, E
[J]. JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION, 2005, 3 (2-3) : 279 - 290
[22] Corporate Political Donations: Investment or Agency?
Aggarwal, Rajesh K.
Meschke, Felix
Wang, Tracy Yue
[J]. BUSINESS AND POLITICS, 2012, 14 (01)
[23] Political Uncertainty and Corporate Investment Cycles
Julio, Brandon
Yook, Youngsuk
[J]. JOURNAL OF FINANCE, 2012, 67 (01): : 45 - 83
[24] Intellectual Property Rights and Foreign Investment: The Political Economy of Taiwan's Technology-Intensive Foreign Direct Investment
Fuller, Douglas B.
[J]. ASIAN POLITICS & POLICY, 2009, 1 (04) : 726 - 738
[25] Discussion of "Corporate Political Connections and Tax Aggressiveness"
Faccio, Mara
[J]. CONTEMPORARY ACCOUNTING RESEARCH, 2016, 33 (01) : 115 - 120
[26] Political connections and corporate social responsibility: Political incentives in China
Xu, Shan
Liu, Duchi
[J]. BUSINESS ETHICS-A EUROPEAN REVIEW, 2020, 29 (04) : 664 - 693
[27] Political connections, tacit power and corporate misconduct
McCarten, Matthew
Diaz-Rainey, Ivan
Roberts, Helen
Tan, Eric K. M.
[J]. JOURNAL OF BUSINESS FINANCE & ACCOUNTING, 2022, 49 (9-10) : 1530 - 1552
[28] Corporate Governance, Political Connections, and Bank Performance
Haris, Muhammad
Yao, Hongxing
Tariq, Gulzara
Javaid, Hafiz Mustansar
Ul Ain, Qurat
[J]. INTERNATIONAL JOURNAL OF FINANCIAL STUDIES, 2019, 7 (04):
[29] Political connections and corporate financial decision making
Yacine Belghitar
Ephraim Clark
Abubakr Saeed
[J]. Review of Quantitative Finance and Accounting, 2019, 53 : 1099 - 1133
[30] Corporate political connections and the 2008 Malaysian election
Fung, Simon Y. K.
Gul, Ferdinand A.
Radhakrishnan, Suresh
[J]. ACCOUNTING ORGANIZATIONS AND SOCIETY, 2015, 43 : 67 - 86

← 1 2 3 4 5 →