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Political connection heterogeneity and firm value in Vietnam

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Abstract
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.
Keywords
political connections, concentrated ownership, firm value, Vietnam, Emerging Markets, CORPORATE SOCIAL-RESPONSIBILITY, OWNERSHIP CONCENTRATION, PERFORMANCE EVIDENCE, EMERGING MARKETS, GOVERNANCE, INVESTMENT, STRATEGIES, DIRECTORS, CRONYISM, CZECH

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MLA
Ha, Phuoc Vu, and Michael Frömmel. “Political Connection Heterogeneity and Firm Value in Vietnam.” COGENT BUSINESS & MANAGEMENT, vol. 7, no. 1, 2020, doi:10.1080/23311975.2020.1738202.
APA
Ha, P. V., & Frömmel, M. (2020). Political connection heterogeneity and firm value in Vietnam. COGENT BUSINESS & MANAGEMENT, 7(1). https://doi.org/10.1080/23311975.2020.1738202
Chicago author-date
Ha, Phuoc Vu, and Michael Frömmel. 2020. “Political Connection Heterogeneity and Firm Value in Vietnam.” COGENT BUSINESS & MANAGEMENT 7 (1). https://doi.org/10.1080/23311975.2020.1738202.
Chicago author-date (all authors)
Ha, Phuoc Vu, and Michael Frömmel. 2020. “Political Connection Heterogeneity and Firm Value in Vietnam.” COGENT BUSINESS & MANAGEMENT 7 (1). doi:10.1080/23311975.2020.1738202.
Vancouver
1.
Ha PV, Frömmel M. Political connection heterogeneity and firm value in Vietnam. COGENT BUSINESS & MANAGEMENT. 2020;7(1).
IEEE
[1]
P. V. Ha and M. Frömmel, “Political connection heterogeneity and firm value in Vietnam,” COGENT BUSINESS & MANAGEMENT, vol. 7, no. 1, 2020.
@article{8661414,
  abstract     = {{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.}},
  articleno    = {{1738202}},
  author       = {{Ha, Phuoc Vu and Frömmel, Michael}},
  issn         = {{2331-1975}},
  journal      = {{COGENT BUSINESS & MANAGEMENT}},
  keywords     = {{political connections,concentrated ownership,firm value,Vietnam,Emerging Markets,CORPORATE SOCIAL-RESPONSIBILITY,OWNERSHIP CONCENTRATION,PERFORMANCE EVIDENCE,EMERGING MARKETS,GOVERNANCE,INVESTMENT,STRATEGIES,DIRECTORS,CRONYISM,CZECH}},
  language     = {{eng}},
  number       = {{1}},
  pages        = {{17}},
  title        = {{Political connection heterogeneity and firm value in Vietnam}},
  url          = {{http://doi.org/10.1080/23311975.2020.1738202}},
  volume       = {{7}},
  year         = {{2020}},
}

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