Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/322572 
Year of Publication: 
2025
Series/Report no.: 
FERDI Working Paper No. P351
Publisher: 
Fondation pour les études et recherches sur le développement international (FERDI), Clermont-Ferrand
Abstract: 
This paper examines how political leaders change moderates the impact of corporate political activity (CPA) on borrower discouragement, using a global dataset of 24,167 firms. While CPA generally reduces discouragement, its effectiveness is significantly diminished during political transitions, as the "know-who" channel becomes unreliable.
Subjects: 
banking
political connection
borrower discouragement
JEL: 
G21
K38
Document Type: 
Working Paper

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