The serious implications of privatizing state-owned enterprises for politicians, managers, and investors make such … effects. A unique opportunity for this identification arises from a rule of promotion of local politicians based on age …

, we rule out a range of alternative explanations for differential earnings of politicians and a relevant control group …

This paper investigates how politicians' patronage connections affect privatizations in China. The connections to top … political leaders (i.e., Central Committee of the Communist Party of China) make local politicians engage more in rent …-seeking by selling state-owned enterprises (SOEs) at substantial discounts. These connected local politicians are also more …

contested political incumbents in order to improve their reelection prospects. In return, politicians grant such banks access to … powerful incumbent faces a contested election. In line with politicians returning the favor, banks that grant more credit to … establish that, if politicians can control the allocation of rents, then formal independence does not ensure the private sector …