{"id":"https://openalex.org/W3201558795","doi":"https://doi.org/10.1108/ijoem-03-2020-0261","title":"Capital structure and political connections: evidence from GCC banks and the financial crisis","display_name":"Capital structure and political connections: evidence from GCC banks and the financial crisis","publication_year":2021,"publication_date":"2021-09-14","ids":{"openalex":"https://openalex.org/W3201558795","doi":"https://doi.org/10.1108/ijoem-03-2020-0261","mag":"3201558795"},"language":"en","primary_location":{"id":"doi:10.1108/ijoem-03-2020-0261","doi":"https://doi.org/10.1108/ijoem-03-2020-0261","is_oa":false,"landing_page_url":"https://doi.org/10.1108/ijoem-03-2020-0261","pdf_url":null,"source":{"id":"https://openalex.org/S116345831","display_name":"International Journal of Emerging Markets","issn_l":"1746-8809","issn":["1746-8809","1746-8817"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Emerging Markets","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5007267749","display_name":"Fatma Ahmed","orcid":"https://orcid.org/0000-0003-2213-0861","observed_orcids":["https://orcid.org/0000-0003-2213-0861"]},"institutions":[{"id":"https://openalex.org/I39586589","display_name":"Swansea University","ror":"https://ror.org/053fq8t95","country_code":"GB","type":"education","lineage":["https://openalex.org/I39586589"]}],"countries":["GB"],"is_corresponding":false,"raw_author_name":"Fatma Ahmed","raw_affiliation_strings":["Swansea University, Swansea, UK"],"raw_orcid":"https://orcid.org/0000-0003-2213-0861","affiliations":[{"raw_affiliation_string":"Swansea University, Swansea, UK","institution_ids":["https://openalex.org/I39586589"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5084268715","display_name":"David G. McMillan","orcid":"https://orcid.org/0000-0002-5891-4193","observed_orcids":["https://orcid.org/0000-0002-5891-4193"]},"institutions":[{"id":"https://openalex.org/I12093191","display_name":"University of Stirling","ror":"https://ror.org/045wgfr59","country_code":"GB","type":"education","lineage":["https://openalex.org/I12093191"]}],"countries":["GB"],"is_corresponding":false,"raw_author_name":"David G. McMillan","raw_affiliation_strings":["University of Stirling, Stirling, UK"],"raw_orcid":"https://orcid.org/0000-0002-5891-4193","affiliations":[{"raw_affiliation_string":"University of Stirling, Stirling, UK","institution_ids":["https://openalex.org/I12093191"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":4.2387,"has_fulltext":false,"cited_by_count":26,"citation_normalized_percentile":{"value":0.94128918,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":93,"max":99},"biblio":{"volume":"18","issue":"9","first_page":"2890","last_page":"2911"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T12225","display_name":"Political Influence and Corporate Strategies","score":0.9750999808311462,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T12225","display_name":"Political Influence and Corporate Strategies","score":0.9750999808311462,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.014399999752640724,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.007699999958276749,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/political-connections","display_name":"political connections","score":0.9919999837875366},{"id":"https://openalex.org/keywords/capital-structure","display_name":"capital structure","score":0.8730000257492065},{"id":"https://openalex.org/keywords/bank-leverage","display_name":"bank leverage","score":0.859000027179718},{"id":"https://openalex.org/keywords/gulf-cooperation-council-banks","display_name":"Gulf Cooperation Council banks","score":0.8539999723434448},{"id":"https://openalex.org/keywords/2008-financial-crisis","display_name":"2008 financial crisis","score":0.9039999842643738},{"id":"https://openalex.org/keywords/deleveraging","display_name":"deleveraging","score":0.9259999990463257},{"id":"https://openalex.org/keywords/natural-experiment","display_name":"natural experiment","score":0.382999986410141}],"concepts":[{"id":"https://openalex.org/C149933338","wikidata":"https://www.wikidata.org/wiki/Q950816","display_name":"Capital structure","level":3,"score":0.6985007524490356},{"id":"https://openalex.org/C44750222","wikidata":"https://www.wikidata.org/wiki/Q1897397","display_name":"Financial capital","level":3,"score":0.5043867826461792},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4885162115097046},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.4577871561050415},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.4438541829586029},{"id":"https://openalex.org/C135665773","wikidata":"https://www.wikidata.org/wiki/Q2234049","display_name":"Debt ratio","level":3,"score":0.4385325312614441},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.4306657016277313},{"id":"https://openalex.org/C153083717","wikidata":"https://www.wikidata.org/wiki/Q6535263","display_name":"Leverage (statistics)","level":2,"score":0.41793251037597656},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.41061365604400635},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.37987634539604187},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.22807824611663818},{"id":"https://openalex.org/C2776943663","wikidata":"https://www.wikidata.org/wiki/Q165687","display_name":"Human capital","level":2,"score":0.09237796068191528},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1108/ijoem-03-2020-0261","doi":"https://doi.org/10.1108/ijoem-03-2020-0261","is_oa":false,"landing_page_url":"https://doi.org/10.1108/ijoem-03-2020-0261","pdf_url":null,"source":{"id":"https://openalex.org/S116345831","display_name":"International Journal of Emerging Markets","issn_l":"1746-8809","issn":["1746-8809","1746-8817"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Emerging Markets","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:eme:ijoemp:ijoem-03-2020-0261","doi":null,"is_oa":false,"landing_page_url":"https://www.emerald.com/insight/content/doi/10.1108/IJOEM-03-2020-0261/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[{"score":0.6601999998092651,"display_name":"Peace, justice, and strong institutions","id":"https://metadata.un.org/sdg/16"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":60,"referenced_works":["https://openalex.org/W1506837183","https://openalex.org/W1591068932","https://openalex.org/W1603894205","https://openalex.org/W1606184681","https://openalex.org/W1761663221","https://openalex.org/W1993116763","https://openalex.org/W1997500202","https://openalex.org/W2002030205","https://openalex.org/W2003360303","https://openalex.org/W2005401363","https://openalex.org/W2011291450","https://openalex.org/W2043585747","https://openalex.org/W2043962431","https://openalex.org/W2049915426","https://openalex.org/W2062014315","https://openalex.org/W2069708315","https://openalex.org/W2071643831","https://openalex.org/W2081346690","https://openalex.org/W2091596451","https://openalex.org/W2098138920","https://openalex.org/W2113170484","https://openalex.org/W2117482595","https://openalex.org/W2122529435","https://openalex.org/W2126609283","https://openalex.org/W2136647651","https://openalex.org/W2140055284","https://openalex.org/W2168198966","https://openalex.org/W2170013516","https://openalex.org/W2242575636","https://openalex.org/W2398429162","https://openalex.org/W2485345366","https://openalex.org/W2578743651","https://openalex.org/W2580813932","https://openalex.org/W2611161039","https://openalex.org/W2736683409","https://openalex.org/W2752617332","https://openalex.org/W2773987158","https://openalex.org/W2790630030","https://openalex.org/W2889500295","https://openalex.org/W3015543457","https://openalex.org/W3023160244","https://openalex.org/W3023389075","https://openalex.org/W3080732781","https://openalex.org/W3121235470","https://openalex.org/W3121440286","https://openalex.org/W3121748598","https://openalex.org/W3121767774","https://openalex.org/W3122036769","https://openalex.org/W3122513589","https://openalex.org/W3122571478","https://openalex.org/W3122859634","https://openalex.org/W3124435575","https://openalex.org/W3124479295","https://openalex.org/W3125062060","https://openalex.org/W3125087107","https://openalex.org/W3125649736","https://openalex.org/W3125757792","https://openalex.org/W3125871704","https://openalex.org/W3125907121","https://openalex.org/W4232273043"],"related_works":["https://openalex.org/W4220776843","https://openalex.org/W4391824800","https://openalex.org/W4307100607","https://openalex.org/W7110863047","https://openalex.org/W7133443284","https://openalex.org/W4376141010","https://openalex.org/W2944150139","https://openalex.org/W4281890365","https://openalex.org/W3214756668","https://openalex.org/W2281864033"],"abstract_inverted_index":{"Purpose":[0],"This":[1,28,146,179],"paper":[2,29,180,260,279],"investigates":[3],"the":[4,10,18,31,35,46,59,82,85,107,129,134,150,197,223,228,232,236,239,262,270,274,281,288],"effect":[5,47,237],"of":[6,13,48,126,152,210,225,238],"political":[7,49,96,200,240],"connections":[8,50,97,201,266],"on":[9,51],"capital":[11,52,101,203,243],"structure":[12,55,102,204,244],"banks":[14,83,100,139,157],"before":[15],"and":[16,39,75,122,190,202,218,242],"after":[17,133,269],"financial":[19,36,135,271],"crisis":[20,37,272],"in":[21,84,176,193,245,273,287],"Gulf":[22],"Cooperation":[23],"Council":[24],"(GCC)":[25],"countries.":[26],"Design/methodology/approach":[27],"employs":[30],"natural":[32],"experiment":[33],"that":[34,95,109,132,149,160,173,213],"offers":[38],"uses":[40],"a":[41,123,208,252],"difference-in-differences":[42],"model":[43],"to":[44,62,89,114,119,143,195,215,222,234,264,283],"investigate":[45,284],"structure.":[53],"Capital":[54],"is":[56,231,261,280],"measured":[57],"by":[58,155],"total":[60,63],"debt":[61,117],"assets":[64],"ratio.":[65],"Control":[66],"variables":[67],"include":[68],"bank":[69],"size,":[70],"growth,":[71],"profitability,":[72],"coverage":[73],"ratio":[74],"volatility.":[76],"The":[77,92,104],"research":[78],"sample":[79],"includes":[80],"all":[81],"GCC":[86,185,246,289],"from":[87],"2005":[88],"2016.":[90],"Findings":[91],"authors":[93],"find":[94],"negatively":[98],"affect":[99],"decisions.":[103],"results":[105,130],"contradict":[106],"claim":[108],"politically":[110,137],"connected":[111,138,156],"firms":[112],"tend":[113],"sustain":[115],"higher":[116],"due":[118],"government":[120],"privilege":[121],"lower":[124],"chance":[125],"bankruptcy.":[127],"Additionally,":[128],"show":[131],"crisis,":[136],"de-lever":[140],"more":[141],"compared":[142],"non-connected":[144],"counterparts.":[145],"could":[147],"suggest":[148,172],"degree":[151],"support":[153],"received":[154],"changes":[158],"or":[159],"they":[161],"exploit":[162],"their":[163],"retained":[164],"earnings":[165],"for":[166,256],"financing":[167],"(individual":[168],"country":[169],"results,":[170],"however,":[171],"leverage":[174,268],"increases":[175],"Qatar).":[177],"Originality/value":[178],"provides":[181],"several":[182],"contributions.":[183],"First,":[184],"countries":[186,290],"present":[187,229],"an":[188],"interesting":[189],"important":[191],"area":[192],"which":[194],"study":[196,230],"relation":[198],"between":[199],"as":[205],"it":[206],"represents":[207],"mix":[209],"newer":[211],"markets":[212],"seek":[214],"attract":[216],"investors":[217],"foreign":[219],"capital.":[220],"Second,":[221],"best":[224],"our":[226,259,278],"knowledge,":[227],"first":[233,263,282],"examine":[235],"connection":[241],"region":[247],"where":[248],"royal":[249],"families":[250],"play":[251],"significant":[253],"role,":[254],"especially":[255],"banks.":[257],"Third,":[258],"link":[265],"with":[267],"banking":[275],"sector.":[276],"Moreover,":[277],"this":[285],"phenomenon":[286],"using":[291],"manually":[292],"collected":[293],"primary":[294],"data.":[295]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":5},{"year":2024,"cited_by_count":6},{"year":2023,"cited_by_count":11},{"year":2022,"cited_by_count":2}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2021-09-27T00:00:00"}
