The influence of political connections on corporate performance in Brazil

This research aims to contribute to the body of work that addresses the company-government relationship by gathering empirical evidence to assess whether political connections influence company performance, which will be measured using three variables that have been little explored in academic literature: (i) preferential access to credit from development banks; (ii) priority in the sale of shares or debentures convertible into shares to development banks; and (iii) international expansion. In this book, quantitative research was carried out by analysing the firms listed on the Brasil, Bolsa, Balcão (B3) between 2007 and 2016, as well as their donations to the 2006, 2010 and 2014 electoral campaigns and the potential effects on BNDES financing, equity stakes held by BNDESPar and the UNCTAD transnationalisation index during the period analysed, with the aim of contributing to an understanding of the influence of political connections on the performance of Brazilian companies.