On the challenge to competitive authoritarianism and political patronage in Malaysia
In M arch 2008, M alaysia's political landscape was shaken by election results showing that the Barisan Nasional had won less than two thirds of the parliamentary seats and lost five states to the opposition. A two‐thirds supermajority had been seen as a sacred threshold for the coalition to en...
Ausführliche Beschreibung
Autor*in: |
Johansson, Anders C [verfasserIn] |
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Format: |
Artikel |
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Sprache: |
Englisch |
Erschienen: |
2015 |
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Rechteinformationen: |
Nutzungsrecht: © 2015 Crawford School of Public Policy,The Australian National University and Wiley Publishing Asia Pty Ltd |
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Schlagwörter: |
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Übergeordnetes Werk: |
Enthalten in: Asian Pacific economic literature - Richmond, Victoria : Wiley Publishing Asia, 1987, 29(2015), 2, Seite 47-67 |
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Übergeordnetes Werk: |
volume:29 ; year:2015 ; number:2 ; pages:47-67 |
Links: |
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DOI / URN: |
10.1111/apel.12114 |
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Katalog-ID: |
OLC1958077682 |
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10.1111/apel.12114 doi PQ20160617 (DE-627)OLC1958077682 (DE-599)GBVOLC1958077682 (PRQ)p1824-b1bc3e908ddfa089b782c5fb0436f6d55ffae1c69a16e3376746a107268399d10 (KEY)0170307220150000029000200047onthechallengetocompetitiveauthoritarianismandpoli DE-627 ger DE-627 rakwb eng 330 DNB Johansson, Anders C verfasserin aut On the challenge to competitive authoritarianism and political patronage in Malaysia 2015 Text txt rdacontent ohne Hilfsmittel zu benutzen n rdamedia Band nc rdacarrier In M arch 2008, M alaysia's political landscape was shaken by election results showing that the Barisan Nasional had won less than two thirds of the parliamentary seats and lost five states to the opposition. A two‐thirds supermajority had been seen as a sacred threshold for the coalition to ensure its continued legitimacy. It is conjectured here that the 2008 election represented a challenge to the competitive authoritarian regime and that this had direct effects on firms with ties to the ruling coalition. The empirical results show that firms with political patronage were indeed adversely affected by the electoral outcome. More specifically, firms with close ties to the Barisan Nasional experienced a significant negative value effect. Firms characterised by political patronage also saw their leverage reduced significantly more than other firms after the 2008 election, suggesting that their access to debt capital had become more restricted. Moreover, this effect was mainly driven by changes in long‐term debt. These results suggest a significant negative impact on connected firms as the political status quo was challenged in M alaysia. Nutzungsrecht: © 2015 Crawford School of Public Policy,The Australian National University and Wiley Publishing Asia Pty Ltd Political behavior Studies Parliamentary elections Authoritarianism Patronage Enthalten in Asian Pacific economic literature Richmond, Victoria : Wiley Publishing Asia, 1987 29(2015), 2, Seite 47-67 (DE-627)169168301 (DE-600)902875-4 (DE-576)081893930 0818-9935 nnns volume:29 year:2015 number:2 pages:47-67 http://dx.doi.org/10.1111/apel.12114 Volltext http://onlinelibrary.wiley.com/doi/10.1111/apel.12114/abstract http://search.proquest.com/docview/1724797783 GBV_USEFLAG_A SYSFLAG_A GBV_OLC SSG-OLC-WIW SSG-OLC-SAS SSG-OLC-OAS SSG-OLC-MFO SSG-OLC-IBL GBV_ILN_26 GBV_ILN_2470 GBV_ILN_4012 AR 29 2015 2 47-67 |
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Johansson, Anders C |
doi_str_mv |
10.1111/apel.12114 |
dewey-full |
330 |
title_sort |
on the challenge to competitive authoritarianism and political patronage in malaysia |
title_auth |
On the challenge to competitive authoritarianism and political patronage in Malaysia |
abstract |
In M arch 2008, M alaysia's political landscape was shaken by election results showing that the Barisan Nasional had won less than two thirds of the parliamentary seats and lost five states to the opposition. A two‐thirds supermajority had been seen as a sacred threshold for the coalition to ensure its continued legitimacy. It is conjectured here that the 2008 election represented a challenge to the competitive authoritarian regime and that this had direct effects on firms with ties to the ruling coalition. The empirical results show that firms with political patronage were indeed adversely affected by the electoral outcome. More specifically, firms with close ties to the Barisan Nasional experienced a significant negative value effect. Firms characterised by political patronage also saw their leverage reduced significantly more than other firms after the 2008 election, suggesting that their access to debt capital had become more restricted. Moreover, this effect was mainly driven by changes in long‐term debt. These results suggest a significant negative impact on connected firms as the political status quo was challenged in M alaysia. |
abstractGer |
In M arch 2008, M alaysia's political landscape was shaken by election results showing that the Barisan Nasional had won less than two thirds of the parliamentary seats and lost five states to the opposition. A two‐thirds supermajority had been seen as a sacred threshold for the coalition to ensure its continued legitimacy. It is conjectured here that the 2008 election represented a challenge to the competitive authoritarian regime and that this had direct effects on firms with ties to the ruling coalition. The empirical results show that firms with political patronage were indeed adversely affected by the electoral outcome. More specifically, firms with close ties to the Barisan Nasional experienced a significant negative value effect. Firms characterised by political patronage also saw their leverage reduced significantly more than other firms after the 2008 election, suggesting that their access to debt capital had become more restricted. Moreover, this effect was mainly driven by changes in long‐term debt. These results suggest a significant negative impact on connected firms as the political status quo was challenged in M alaysia. |
abstract_unstemmed |
In M arch 2008, M alaysia's political landscape was shaken by election results showing that the Barisan Nasional had won less than two thirds of the parliamentary seats and lost five states to the opposition. A two‐thirds supermajority had been seen as a sacred threshold for the coalition to ensure its continued legitimacy. It is conjectured here that the 2008 election represented a challenge to the competitive authoritarian regime and that this had direct effects on firms with ties to the ruling coalition. The empirical results show that firms with political patronage were indeed adversely affected by the electoral outcome. More specifically, firms with close ties to the Barisan Nasional experienced a significant negative value effect. Firms characterised by political patronage also saw their leverage reduced significantly more than other firms after the 2008 election, suggesting that their access to debt capital had become more restricted. Moreover, this effect was mainly driven by changes in long‐term debt. These results suggest a significant negative impact on connected firms as the political status quo was challenged in M alaysia. |
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container_issue |
2 |
title_short |
On the challenge to competitive authoritarianism and political patronage in Malaysia |
url |
http://dx.doi.org/10.1111/apel.12114 http://onlinelibrary.wiley.com/doi/10.1111/apel.12114/abstract http://search.proquest.com/docview/1724797783 |
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up_date |
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