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Full-Text Articles in Social and Behavioral Sciences
Finance And Ideology: The Firm-Level Channels, Hao Liang, Rong Wang, Haikun Zhu
Finance And Ideology: The Firm-Level Channels, Hao Liang, Rong Wang, Haikun Zhu
Research Collection Lee Kong Chian School Of Business
We provide firm-level evidence on how politicians’ ideologies affect economic outcomes and financial development by exploring a unique setting of ideological discontinuity in China from Maoism to Dengism around 1978. We find the ideological exposure during a politician’s early adulthood has an enduring effect on contemporary firm and city policies. Firms governed by “Mao’s mayors” have more stakeholder spending, lower pay inequality, and less internationalization than those governed by Deng’s. Further evidence suggests politicians’ ideology may affect economic activities through channels other than economic policy. Selection bias, endogenous matching and mayor age effect are unlikely to drive our results.
Given Today's New Wave Of Protectionsim, Is Antitrust Law The Last Hope For Preserving A Free Global Economy Or Another Nail In Free Trade's Coffin?, Allison Murray
Loyola of Los Angeles International and Comparative Law Review
No abstract provided.