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    Political Patronage and Analysts’ Forecast Precision

    267345.pdf (959.5Kb)
    Access Status
    Open access
    Authors
    Abdul Wahab, Effiezal Aswadi
    How, J.
    Verhoeven, P.
    Park, J.
    Date
    2018
    Type
    Journal Article
    
    Metadata
    Show full item record
    Citation
    Abdul Wahab, E.A. and How, J. and Verhoeven, P. and Park, J. 2018. Political Patronage and Analysts’ Forecast Precision. Journal of Contemporary Accounting and Economics. 14 (3): pp. 307-320.
    Source Title
    Journal of Contemporary Accounting and Economics
    DOI
    10.1016/j.jcae.2018.07.003
    ISSN
    1815-5669
    School
    School of Accounting
    URI
    http://hdl.handle.net/20.500.11937/70164
    Collection
    • Curtin Research Publications
    Abstract

    We test whether the channel by which the government plays the role of political patron to selected firms influences analysts’ forecast precision in Malaysia. Correcting for analysts’ self-selection bias, we find a negative relation between analysts’ forecast errors and the social dimension of political patronage, as proxied by government-controlled institutional ownership. The reverse is found for the economic dimension of political patronage, as proxied by the percentage shareholding of government-linked corporations. We find no evidence that the personal dimension of political patronage influences analysts’ forecast precision.

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    • Political patronage and analysts’ forecast precision
      Abdul Wahab, Effiezal Aswadi; How, J.; Park, J.; Verhoeven, P. (2018)
      © 2018 Elsevier Ltd We test whether the channel by which the government plays the role of political patron to selected firms influences analysts’ forecast precision in Malaysia. Correcting for analysts’ self-selection ...
    • Political patronage and analysts’ forecast precision
      Abdul Wahab, Effiezal ; How, J.; Park, J.; Verhoeven, P. (2018)
      We test whether the channel by which the government plays the role of political patron to selected firms influences analysts’ forecast precision in Malaysia. Correcting for analysts’ self-selection bias, we find a negative ...
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      Gist, Willie; Abdul Wahab, Effiezal (2021)
      Based on a sample of 2,034 Malaysian listed firm-year observations for the period 2007–2014, this study shows a negative relationship between dimensions of political patronage (i.e., politically connected firms and the ...
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