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Erscheinungsjahr: 
2024
Schriftenreihe/Nr.: 
IWH Discussion Papers No. 15/2024
Verlag: 
Halle Institute for Economic Research (IWH), Halle (Saale)
Zusammenfassung: 
We study how connections to German federal parliamentarians affect firm dynamics by constructing a novel dataset to measure connections between politicians and the universe of firms. To identify the causal effect of access to political power, we exploit (i) new appointments to the company leadership team and (ii) discontinuities around the marginal seat of party election lists. Our results reveal that connections lead to reductions in firm exits, gradual increases in employment growth without improvements in productivity. The economic effects are mediated by better credit ratings while access to subsidies or procurement contracts are documented to be of lower importance.
Schlagwörter: 
firm performance
identification
political connections
politicians
JEL: 
D72
L25
O43
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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