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Article: Property Rights, Political Connections, and Corporate Investment
| Title | Property Rights, Political Connections, and Corporate Investment |
|---|---|
| Authors | |
| Issue Date | 15-Sep-2023 |
| Publisher | Oxford University Press |
| Citation | Review of Finance, 2023 How to Cite? |
| Abstract | We study the impact of an urban land titling program on firm investment in Shenzhen, China. We find that this program increased the investment rate for titling firms, but this positive effect only holds for politically-connected firms. Further analysis suggests that the titling effect is more pronounced for those titling firms associated with greater expropriation risk. During program implementation, the connected titling firms increased their investment perhaps because, as observed, they experienced fewer disputes than non-connected titling firms. |
| Persistent Identifier | http://hdl.handle.net/10722/332019 |
| ISSN | 2021 Impact Factor: 5.059 2020 SCImago Journal Rankings: 4.933 |
| DC Field | Value | Language |
|---|---|---|
| dc.contributor.author | Miao, Meng | - |
| dc.contributor.author | Tang, Dragon Yongjun | - |
| dc.contributor.author | Xu, Lixin Colin | - |
| dc.contributor.author | Yan, Xiao | - |
| dc.date.accessioned | 2023-09-28T05:00:18Z | - |
| dc.date.available | 2023-09-28T05:00:18Z | - |
| dc.date.issued | 2023-09-15 | - |
| dc.identifier.citation | Review of Finance, 2023 | - |
| dc.identifier.issn | 1572-3097 | - |
| dc.identifier.uri | http://hdl.handle.net/10722/332019 | - |
| dc.description.abstract | <p>We study the impact of an urban land titling program on firm investment in Shenzhen, China. We find that this program increased the investment rate for titling firms, but this positive effect only holds for politically-connected firms. Further analysis suggests that the titling effect is more pronounced for those titling firms associated with greater expropriation risk. During program implementation, the connected titling firms increased their investment perhaps because, as observed, they experienced fewer disputes than non-connected titling firms.<br></p> | - |
| dc.language | eng | - |
| dc.publisher | Oxford University Press | - |
| dc.relation.ispartof | Review of Finance | - |
| dc.title | Property Rights, Political Connections, and Corporate Investment | - |
| dc.type | Article | - |
| dc.identifier.doi | 10.1093/rof/rfad029 | - |
| dc.identifier.eissn | 1573-692X | - |
| dc.identifier.issnl | 1572-3097 | - |