This article combines the institutional theory and political economy approaches to test hypotheses about how transitions in institutional environments affect the performance of Business Groups. Its primary hypothesis is that the different types of political connections established by Business...

Defendants of state-owned development banks emphasize their role in reducing capital constraints and fostering productive investment; detractors point out that they may benefit politically connected capitalists or bail out inefficient firms. We study the effect of loans and equity investments of...

Purpose – The purpose of this paper is to analyse the effects of institutional changes on business landscapes and companies performance in Brazil. Design/methodology/approach – The authors have developed a multiple empirical strategy, including qualitative and quantitative methods. As a...

Purpose Drawing on the agency and institutional theory, this paper aims to explore how financial internationalization shapes firm performance through the influence of foreign actors. Design/methodology/approach By using a unique panel database, composed of over 26,000 curricula and 4,000...