The partisan policy cycle and firm valuation

Camyar, Isa; Ulupinar, Bahar

doi:10.1016/j.ejpoleco.2013.02.001

Cited by 6 publications

(3 citation statements)

References 69 publications

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“…Firm values as measured by Tobin's Q were higher under leftwing governments as compared to rightwing governments, a result derived for a sample of 21 countries over the period 1989(Camyar and Ulupinar 2013. Government ideology is measured by the cabinet seat shares of individual parties (Armingeon et al).…”

Section: Othersmentioning

confidence: 98%

Partisan Politics: The Empirical Evidence from OECD Panel Studies

Potrafke

2016

SSRN Journal

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Section: Othersmentioning

confidence: 98%

Partisan Politics: The Empirical Evidence from OECD Panel Studies

Potrafke

2016

SSRN Journal

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“…The boycott included urging people to avoid traveling to or holding conventions and conferences in Arizona. Going one step further, Camyar and Ulupinar (2013) empirically show that firm value depends on the partisan policy in major industrial democracies. 3 Boycotts also are observed in investment activity.…”

Section: A Polarization In America and Its Potential Impacts On Economymentioning

confidence: 99%

“…An important related literature is the partisan theory of economic policy (Hibbs 1977), which theoretically shows that macroeconomic policy depends on partisan policy. Going one step further, Camyar and Ulupinar (2013) empirically show that firm value depends on the partisan policy in major industrial democracies. In particular, firm value is high under left-oriented governments.…”

Section: A Polarization In America and Its Potential Impacts On Economymentioning

confidence: 99%

Trade in Polarized America: The Border Effect Between Red States and Blue States

Ishise

Matsuo

2014

Economic Inquiry

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Political and cultural polarization in the United States is widely discussed, but does it relate to any economic disconnection among states? We estimate the "border" effect between Red and Blue states using the gravity equation with a nonlinear generalized method of moments estimator to simultaneously overcome the problems associated with endogeneity, cross-state price differences, and zero-trade flow. The border effect is robustly confirmed for the 2000s, while not so robustly detected for the 1990s. Notably, in 2007, the border reduces trade between Red and Blue states to approximately 75% of the trade within each set of states. This estimated border effect is much smaller than the United States-Canada national border effect estimated by Anderson and van Wincoop (2003), and by Feenstra (2002), yet is comparable to the border effect that Nitsch and Wolf (2009) find for the former West and East Germanies approximately 10 years after reunification. While the border effect in Germany after reunification is decreasing, the border effect between the Red and Blue states is emerging. We also find the border effect is more significant for consumption, rather than intermediate, goods. The border effect is an important indicator for a potential dismantling of the economic connectivity in the United States. (JEL D72, F10, F15, R1) * We are grateful to the editor Bruce Blonigen, two anonymous referees, Yasushi Asako, Masahiro Endoh, and Giovanni Facchini for their comments and discussions. We also appreciate comments by seminar participants at

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Optimal Voting and Voting-Districts; and Relationships between Constitutions and the Size of Government

Nwogugu¹

2021

Geopolitical Risk, Sustainability and “Cross-Border Spillovers” in Emerging Markets, Volume I

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The partisan policy cycle and firm valuation

Cited by 6 publications

References 69 publications

Partisan Politics: The Empirical Evidence from OECD Panel Studies

Partisan Politics: The Empirical Evidence from OECD Panel Studies

Trade in Polarized America: The Border Effect Between Red States and Blue States

Optimal Voting and Voting-Districts; and Relationships between Constitutions and the Size of Government

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