Journal article
The association between cost of debt and Hong Kong politically connected firms
Journal of Contemporary Accounting and Economics, Vol.14(3), pp.321-334
2018
Abstract
This paper investigates the association between Hong Kong politically connected (PCON) firms and their cost of debt and find these firms are associated with significantly lower interest rates being charged by lenders compared to other (non-PCON) firms. We compare our results with earlier investigations of Malaysian and U.S. PCON firms and find that our results are consistent with the results of the U.S. but inconsistent with that of Malaysia. Our results suggest that the economic wealth, the extent of political power, and the pervasiveness of firms having political connections could account for the cross-country differences between the cost of debt and PCON firms.
Details
- Title
- The association between cost of debt and Hong Kong politically connected firms
- Authors
- Mark A. Bliss (Author) - Hong Kong Polytechnic UniversityJohn A. Goodwin (Author) - Sabancı ÜniversitesiFerdinand A. Gul (Author) - Deakin UniversityAnson Wong (Author) - Hong Kong Polytechnic University
- Publication details
- Journal of Contemporary Accounting and Economics, Vol.14(3), pp.321-334
- Publisher
- Elsevier Ltd
- DOI
- 10.1016/j.jcae.2018.10.001
- Organisation Unit
- University of the Sunshine Coast, Queensland; School of Business and Creative Industries
- Language
- English
- Record Identifier
- 99679191702621
- Output Type
- Journal article
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