Work

Sudden Deaths: Taking Stock of Geographic Ties

Year: 2009

Type: article

Abstract: Analysis of a worldwide sample of sudden deaths of politicians reveals a market-adjusted 1.7% decline in the value of companies headquartered in the politician's hometown. The decline in value is followed by a drop in the rate of growth in sales and access to credit. Our results are particularly pronounced for family firms, firms with high growth prospects, firms in industries over which the politician has jurisdiction, and firms headquartered in highly corrupt countries.

Source: Journal of Financial and Quantitative Analysis

DOI: 10.1017/s0022109009990068

Authors: Mara Faccio, David C. Parsley

Institutions: Purdue University West Lafayette, Vanderbilt University

Language: English

Topic: Political Influence and Corporate Strategies

Subfield: Strategy and Management

Field: Business, Management and Accounting

Domain: Social Sciences

SDGs: Peace, justice, and strong institutions, Decent work and economic growth

Open Access status: green

OpenAlex ID: W3023389075

FWCI: 52.02

Cites: 52

Cited by: 479

Related to: 8