Abstract
ABSTRACT The issue of politically connected firms has recently become one of the hot topics in management and financial studies. The aim of this review is to present the theories used in this topic and assesses the empirical studies. To do so first, we present the definition of politically connected firms. Subsequently, the paper introduces the theoretical approaches, namely; the resource dependence theory and the theory of privatization that aim to explain the reasons of political connection. Furthermore, the paper reviews existing empirical studies discussing the impacts of political connection on several issues: namely, impact of political connection on firm performance, impact of political connection on accessing bank credit, impact of political connection on accessing preferential treatments and finally impact of political connection on employment. http://dx.doi.org/10.17130/ijmeb.2018445671
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