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Indonesia as a democratic, multi-party and developing country. This study uses sample of 1,044 and 543 firm-year observations … result. This study finds that political connection is negatively associated with overinvestment in Indonesia. We also find …
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Does democratization promote economic competition? This paper documents that the disruption of political connections associated with Suharto's fall had a modest pro-competitive effect on Indonesian manufacturing industries in which his family had extensive business interests. Firms with...
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