Political connection heterogeneity and firm value in Vietnam

The observation of firms’ political connections (PCs) in both types of ascribed and acquired PCs has raised the question of their benefits to firms’ operation. Based on 1,365 Vietnamese listed firm-year observations from 2010 to 2014, we find that although firms with both ascribed and acquired PCs h...

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Autores principales:	Phuoc Vu Ha, Michael Frömmel
Formato:	article
Lenguaje:	EN
Publicado:	Taylor & Francis Group 2020
Materias:	political connections concentrated ownership firm value Business HF5001-6182 Management. Industrial management HD28-70
Acceso en línea:	https://doaj.org/article/0c125c40663d4fc2bdb68e0fa72cb270
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spelling	oai:doaj.org-article:0c125c40663d4fc2bdb68e0fa72cb2702021-12-02T15:59:34ZPolitical connection heterogeneity and firm value in Vietnam2331-197510.1080/23311975.2020.1738202https://doaj.org/article/0c125c40663d4fc2bdb68e0fa72cb2702020-01-01T00:00:00Zhttp://dx.doi.org/10.1080/23311975.2020.1738202https://doaj.org/toc/2331-1975The observation of firms’ political connections (PCs) in both types of ascribed and acquired PCs has raised the question of their benefits to firms’ operation. Based on 1,365 Vietnamese listed firm-year observations from 2010 to 2014, we find that although firms with both ascribed and acquired PCs have lower firm value (FV) than firms without any PCs, firms with acquired PCs exhibit better FV than those with ascribed PCs. The paper also reveals that concentrated ownership (CO) has a mediation impact on the association between acquired PCs and FV while it can help firms with acquired PCs in improving FV.Phuoc Vu HaMichael FrömmelTaylor & Francis Grouparticlepolitical connectionsconcentrated ownershipfirm valueBusinessHF5001-6182Management. Industrial managementHD28-70ENCogent Business & Management, Vol 7, Iss 1 (2020)
institution	DOAJ
collection	DOAJ
language	EN
topic	political connections concentrated ownership firm value Business HF5001-6182 Management. Industrial management HD28-70
spellingShingle	political connections concentrated ownership firm value Business HF5001-6182 Management. Industrial management HD28-70 Phuoc Vu Ha Michael Frömmel Political connection heterogeneity and firm value in Vietnam
description	The observation of firms’ political connections (PCs) in both types of ascribed and acquired PCs has raised the question of their benefits to firms’ operation. Based on 1,365 Vietnamese listed firm-year observations from 2010 to 2014, we find that although firms with both ascribed and acquired PCs have lower firm value (FV) than firms without any PCs, firms with acquired PCs exhibit better FV than those with ascribed PCs. The paper also reveals that concentrated ownership (CO) has a mediation impact on the association between acquired PCs and FV while it can help firms with acquired PCs in improving FV.
format	article
author	Phuoc Vu Ha Michael Frömmel
author_facet	Phuoc Vu Ha Michael Frömmel
author_sort	Phuoc Vu Ha
title	Political connection heterogeneity and firm value in Vietnam
title_short	Political connection heterogeneity and firm value in Vietnam
title_full	Political connection heterogeneity and firm value in Vietnam
title_fullStr	Political connection heterogeneity and firm value in Vietnam
title_full_unstemmed	Political connection heterogeneity and firm value in Vietnam
title_sort	political connection heterogeneity and firm value in vietnam
publisher	Taylor & Francis Group
publishDate	2020
url	https://doaj.org/article/0c125c40663d4fc2bdb68e0fa72cb270
work_keys_str_mv	AT phuocvuha politicalconnectionheterogeneityandfirmvalueinvietnam AT michaelfrommel politicalconnectionheterogeneityandfirmvalueinvietnam
_version_	1718385311837323264

Political connection heterogeneity and firm value in Vietnam

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