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Political connections: evidence from listed companies in Portugal

Authors: Maria Teresa Bianchi; Rui Couto Viana;

Political connections: evidence from listed companies in Portugal

Abstract

This paper reports the results of an exploratory analysis, focused on Euronext Lisbon listed companies, which aimed to obtain an image of the characteristics of politically connected firms and of the politicians connected to them. Our results show that the majority of listed companies are politically connected and politicians, in some cases, are involved with several companies. The size of connected firms is significantly higher than of their non-connected peers. However, measures of financial equity to assets, return on assets and effective tax rate on income not seem to be significantly different in the two observed groups. Concerning to the politicians serving on the board of directors and supervisory board, this paper shows that the majority is or was a minister, all of them have an academic degree and are male genre, and the main area of their degrees is law followed by economics.

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
4
Average
Average
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