This paper investigates how multinational firms choose their capital structure in response to political risk. We focus on two choice variables, the leverage and the ownership structure of the foreign affiliate, and we distinguish different types of political risk, like expropriation, corruption and confiscatory taxation, and In our theoretical analysis we find that as political risk increases t...

one of the main debates in the realm of western political thought which, one dare say, evolved simultaneously with the rise of man's political thought and is still evolving, is a historical debate on virtue and freedom. this study seeks to trace and highlight the main characteristics of each of these two sets of political theories, virtue-centered and freedom-oriented, in the history of we...

among others internal, regional, international, political, economic, technical, social and cultural factors are reasons that theorists introduce for beginning of integration at a region. by looking at the functions of the shanghai cooperation organization and the association of southeast asian nations (asean), we understand that there are two basic pragmatic factors, the support of the great po...

Article history: Received 7 August 2014 Received in revised form 20 June 2015 Accepted 29 June 2015 Available online 9 July 2015 This study investigates whether a firm with strong corporate governance (CG) requires political connections (PCs), that is, we examine whether CG and PC substitute for or complement each other. Using 71,069 individual bank loan contracts from Taiwan, we examine how lo...

This paper attempts to move beyond the left-right characterization of political ideologies. We propose a trait based probabilistic model for estimating the manifold of political opinion. We demonstrate the efficacy of our model on two novel and large scale datasets of public opinion. Our experiments show that although the political spectrum is richer than a simple left-right structure, peoples’...

Political process theories of social movements have relied on a set of oppositions between culture and structure that has limited their capacity to capture the supraindividual, durable, and constraining dimensions of culture. The solution is not to abandon an emphasis on "objective" political structures in favor of potential insurgents' "subjective" perceptions of political opportunities, but r...