The Effect of Political Connections on Financing Policies

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SALEHINIA MOHSEN; Tamoradi Ali

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

Journal Paper

Paper Information

Journal: Financial Accounting Research Year:2019 | Volume:11 | Issue:2 (40) Page(s): 39-60

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Information Journal Paper

Title

The Effect of Political Connections on Financing Policies

Author(s)

SALEHINIA MOHSEN | Tamoradi Ali | Issue Writer Certificate

Keywords

Political ConnectionsQ1

Financing PoliciesQ1

Debt RatioQ2

Debt CostQ2

Credit RatingQ1

Abstract

Considering the highly competitive environment, if a company cannot supply the required financing, it may encounter some problems in its operations. Companies are generally faced with two concerns on their financing conditions. The first concern is whether they have the required financial resources at a low cost in case of need while the second concern is whether they can repay their debts or not. Political Connections are one of the factors that may affect the financing conditions of companies but have been less considered in research literature. For this purpose, the present study aimed at investigating the effect of Political Connections on Financing Policies. A sample including 150 companies listed on the Tehran Stock Exchange are selected and studied during 2011-2017. The findings related to testing the research hypotheses indicate that Political Connections have a significant positive effect on short-term Debt Ratio, long-term Debt Ratio, total Debt Ratio, and the cost of debt. In addition, the findings revealed that Political Connections have a significant negative effect on the Credit Rating of companies.

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APA: Copy

SALEHINIA, MOHSEN, & Tamoradi, Ali. (2019). The Effect of Political Connections on Financing Policies. JOURNAL OF FINANCIAL ACCOUNTING RESEARCH, 11(2 (40) ), 39-60. SID. https://sid.ir/paper/408717/en

Vancouver: Copy

SALEHINIA MOHSEN, Tamoradi Ali. The Effect of Political Connections on Financing Policies. JOURNAL OF FINANCIAL ACCOUNTING RESEARCH[Internet]. 2019;11(2 (40) ):39-60. Available from: https://sid.ir/paper/408717/en

IEEE: Copy

MOHSEN SALEHINIA, and Ali Tamoradi, “The Effect of Political Connections on Financing Policies,” JOURNAL OF FINANCIAL ACCOUNTING RESEARCH, vol. 11, no. 2 (40) , pp. 39–60, 2019, [Online]. Available: https://sid.ir/paper/408717/en

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