首页|Political connections, media monitoring and long-term loans

Political connections, media monitoring and long-term loans

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We analyze data on Chinese non-state-listed firms and find that it is easier for firms with political connections to obtain long-term loans with extended debt maturities than it is for firms without political connections. Our investigation indicates that this phenomenon is significantly less common with increased media monitoring. Houston et al. (2011) find strong evidence that the state ownership of media is associated with higher levels of bank corruption in China, but our study shows that, to a certain extent, media monitoring can curb corruption.

Political connectionsLong-term loansMedia monitoring

Deming Yang、Zhengfei Lu、Danglun Luo

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Management School, Jinan University, China

Guanghua School of Management, Peking University, China

Lingnan College, Sun Yat-Sen University, China

This study was supported by the Major Project of the National Natural Science Foundation of ChinaThis study was supported by the Major Project of the National Natural Science Foundation of ChinaThis study was supported by the Major Project of the National Natural Science Foundation of ChinaThis study was supported by the Major Project of the National Natural Science Foundation of China

71372168710021107113200471332004

2014

10.1016/j.cjar.2014.08.004

ISSN：
年,卷(期)：2014.(3)
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