Political connections and firm performance: Further evidence using a generalised quantile regression approach

We investigate the relationship between political connectedness and firm performance employing the generalised quantile regression (GQR) method. We analysed the annual data of 190 Pakistani firms (including politically connected and non-politically connected firms) that were listed on the Pakistan S...

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Autores principales:	Faisal Shahzad, Asif Saeed, Ghazanfar Ali Asim, Fiza Qureshi, Ijaz Ur Rehman, Saba Qureshi
Formato:	article
Lenguaje:	EN
Publicado:	Elsevier 2021
Materias:	Politically connected firms Firm performance Generalised quantile regression Business HF5001-6182
Acceso en línea:	https://doaj.org/article/b746d1b73bf14710a5b2748b7e60907c
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spelling	oai:doaj.org-article:b746d1b73bf14710a5b2748b7e60907c2021-11-20T04:55:56ZPolitical connections and firm performance: Further evidence using a generalised quantile regression approach0970-389610.1016/j.iimb.2021.08.005https://doaj.org/article/b746d1b73bf14710a5b2748b7e60907c2021-09-01T00:00:00Zhttp://www.sciencedirect.com/science/article/pii/S0970389621000641https://doaj.org/toc/0970-3896We investigate the relationship between political connectedness and firm performance employing the generalised quantile regression (GQR) method. We analysed the annual data of 190 Pakistani firms (including politically connected and non-politically connected firms) that were listed on the Pakistan Stock Exchange from 2007 to 2014. The analysis reveals that the political connections of the board directors impact firm performance negatively in different performance distributions. When compared to high-performing firms, the magnitude of impact of political connectedness is considerably higher in the case of low-performing firms. Overall, there is a negative correlation between political connectedness and performance after we account for the endogenous selection of the political connections in the board.Faisal ShahzadAsif SaeedGhazanfar Ali AsimFiza QureshiIjaz Ur RehmanSaba QureshiElsevierarticlePolitically connected firmsFirm performanceGeneralised quantile regressionBusinessHF5001-6182ENIIMB Management Review, Vol 33, Iss 3, Pp 205-213 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Politically connected firms Firm performance Generalised quantile regression Business HF5001-6182
spellingShingle	Politically connected firms Firm performance Generalised quantile regression Business HF5001-6182 Faisal Shahzad Asif Saeed Ghazanfar Ali Asim Fiza Qureshi Ijaz Ur Rehman Saba Qureshi Political connections and firm performance: Further evidence using a generalised quantile regression approach
description	We investigate the relationship between political connectedness and firm performance employing the generalised quantile regression (GQR) method. We analysed the annual data of 190 Pakistani firms (including politically connected and non-politically connected firms) that were listed on the Pakistan Stock Exchange from 2007 to 2014. The analysis reveals that the political connections of the board directors impact firm performance negatively in different performance distributions. When compared to high-performing firms, the magnitude of impact of political connectedness is considerably higher in the case of low-performing firms. Overall, there is a negative correlation between political connectedness and performance after we account for the endogenous selection of the political connections in the board.
format	article
author	Faisal Shahzad Asif Saeed Ghazanfar Ali Asim Fiza Qureshi Ijaz Ur Rehman Saba Qureshi
author_facet	Faisal Shahzad Asif Saeed Ghazanfar Ali Asim Fiza Qureshi Ijaz Ur Rehman Saba Qureshi
author_sort	Faisal Shahzad
title	Political connections and firm performance: Further evidence using a generalised quantile regression approach
title_short	Political connections and firm performance: Further evidence using a generalised quantile regression approach
title_full	Political connections and firm performance: Further evidence using a generalised quantile regression approach
title_fullStr	Political connections and firm performance: Further evidence using a generalised quantile regression approach
title_full_unstemmed	Political connections and firm performance: Further evidence using a generalised quantile regression approach
title_sort	political connections and firm performance: further evidence using a generalised quantile regression approach
publisher	Elsevier
publishDate	2021
url	https://doaj.org/article/b746d1b73bf14710a5b2748b7e60907c
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Political connections and firm performance: Further evidence using a generalised quantile regression approach

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