Por favor, use este identificador para citar o enlazar este ítem:
http://hdl.handle.net/10609/149163
Título : | Systemic political risk |
Autoría: | Chuliá, Helena ![]() Estévez, Marc ![]() Uribe, Jorge M. ![]() |
Citación : | Chuliá Soler, H. [Helena]. Estévez, M. [Marc]. Uribe, J. [Jorge M.]. (2023). Systemic political risk. Economic Modelling, 125, 1-19. doi: 10.1016/j.econmod.2023.106375 |
Resumen : | Political risk impacts firm-level risk, influencing funding costs, cash holdings, and capital structure choices. Traditional approaches to political risk rely on aggregate indicators, like economic policy uncertainty proxies. In contrast, our study examines how political risk spreads among individual US firms and sectors using network analysis and systemic risk indicators. This approach identifies crucial and vulnerable actors, not possible with aggregate proxies. We demonstrate the spread of political risk among firms and establish the utility of monitoring neighboring firms to predict potential political risk for a specific firm. Thus, firm-level political risk is not just an idiosyncratic concern but also a systemic one. Additionally, we find that the most central political risk actors are the most sensitive to economic cycles. |
Palabras clave : | Political risk policy uncertainty networks granger causality systemic risk |
DOI: | https://doi.org/10.1016/j.econmod.2023.106375 |
Tipo de documento: | info:eu-repo/semantics/article |
Versión del documento: | info:eu-repo/semantics/publishedVersion |
Fecha de publicación : | 2-ago-2023 |
Licencia de publicación: | http://creativecommons.org/licenses/by-nc-nd/4.0/ ![]() |
Aparece en las colecciones: | Articles Articles cientÍfics |
Ficheros en este ítem:
Fichero | Descripción | Tamaño | Formato | |
---|---|---|---|---|
Chuliá_Systemic_EM.pdf | 5,27 MB | Adobe PDF | ![]() Visualizar/Abrir |
Comparte:
![]( /image/googleScholar.png)
![](/image/microsoftAcademic.png)
Los ítems del Repositorio están protegidos por copyright, con todos los derechos reservados, a menos que se indique lo contrario.