Add to ORKGFirms use active political strategies not only to mitigate uncertainty emanating from legislative activity, but also to enhance their growth opportunities. We find that a firm\u27s systematic risk (beta) can be hedged away by employing various political strategies involving the presence of former politicians on corporate boards of directors, contributions to political campaigns, and corporate lobbying activities. The hedging effect is greater when firms operate in more uncertain industries. In addition, active political strategies are associated with greater firm heterogeneity and make real options more value relevant as potential drivers of competitive advantages in uncertain environments
We show that existing stocks that are currently traded in the U.S. stock market can be used to hedge...
We adapt simple tools from computational linguistics to construct a new measure of political risk fa...
Political environment is an important determinant of financial intermediation costs, which eventuall...
Political events across countries have significant effects on corporate financial policies...
We adapt simple tools from computational linguistics to construct a new measure of political risk fa...
We link the crosssection of firms' sensitivities to economic policy uncertainty to their subsequent ...
While several studies have examined how economy-wide political uncertainty affects firms’ economic a...
Exposure to political corruption and political uncertainty separately demands opposing risk manageme...
Managers can craft effective integrated strategy by properly assessing regulatory uncertainty. Lever...
Purpose: Despite the importance and prevalence of corporate political activities in modern organizat...
Although significant scholarship has been devoted to the study of corporate political activity, cont...
Although significant scholarship has been devoted to the study of corporate political activity, cont...
I examined how politics affects corporate policies and value in two dissertation essays. In my first...
We show that existing stocks that are currently traded in the U.S. stock market can be used to hedge...
We adapt simple tools from computational linguistics to construct a new measure of political risk fa...
Political environment is an important determinant of financial intermediation costs, which eventuall...
Political events across countries have significant effects on corporate financial policies...
We adapt simple tools from computational linguistics to construct a new measure of political risk fa...
We link the crosssection of firms' sensitivities to economic policy uncertainty to their subsequent ...
While several studies have examined how economy-wide political uncertainty affects firms’ economic a...
Exposure to political corruption and political uncertainty separately demands opposing risk manageme...
Managers can craft effective integrated strategy by properly assessing regulatory uncertainty. Lever...
Purpose: Despite the importance and prevalence of corporate political activities in modern organizat...
Although significant scholarship has been devoted to the study of corporate political activity, cont...
Although significant scholarship has been devoted to the study of corporate political activity, cont...
I examined how politics affects corporate policies and value in two dissertation essays. In my first...
We show that existing stocks that are currently traded in the U.S. stock market can be used to hedge...
We adapt simple tools from computational linguistics to construct a new measure of political risk fa...
Political environment is an important determinant of financial intermediation costs, which eventuall...