In this study, we draw upon insights from agency theory to examine the impact of managerial political ties on cost of debt and also to explore whether corporate governance mediates this impact. We hypothesize that political ties reduce financial reporting quality, disclosure of non-financial information and board independence, and are therefore associated with higher interest rates. We also hypothesize that the negative effect of political ties on the cost of debt will be stronger if firms borrow from privately-owned banks versus government-owned banks. Using data from Ghana, we find support for our direct and moderation hypotheses; political ties are associated with high interest rates and poor corporate governance. However, we do not find evidence of mediation. Altogether, the findings reveal the dark side of political connections and highlight the cost of political embeddedness in emerging credit markets. 相似文献
Persistent simplistic binary discourses of young people’s citizenship portray them either as civically deficit and disengaged citizens or the creators of new democratic modes and approaches. This paper draws on field research with two groups of young people in Australia to better recognise the nuance of young people’s experiences of citizenship, power and influence. The study investigated the extent to which different groups of young people believe that they have the power to influence society; the ways in which they seek this influence; the current barriers to their influence; and what would enable them to have greater influence. Our analysis in this paper draws on Lukes’ concepts of power [2005. Power: A Radical View. 2nd ed. London: Palgrave Macmillan] and Arvanitakis’ framework of citizenship engagement and empowerment [in Arvanitakis, J., and E. Sidoti. 2011. “The Politics of Change: Where to for Young People and Politics.” In Their Own Hands: Can Young People Change Australia?, edited by L. Walsh and R. Black, 11–20. Melbourne: ACER Press], but also builds on an emerging scholarship concerned with the geographic dimensions of young people’s citizenship engagement and action, as well as with the affective, relational and temporal dimensions of this engagement and action. Our findings suggest that power works in different ways to both constrain and liberate young people as citizens – sometimes at the same time. The paper concludes with an argument for the continuing need to understand young people’s lived and located experiences of engagement, power and influence in more nuanced and sophisticated ways. This includes reframing the discussion about young people’s experiences in terms of the nature of their democratic engagement and action rather than simply their citizenship. 相似文献
The paper seeks to makes a contribution to a recent debate in the Journal about what a political economy of youth might look like. The paper will take up aspects of Sukarieh and Tannock’s [2016. ‘On the political economy of youth: a comment.’ Journal of Youth Studies 19 (9): 1281–1289] response to the initial contributions by Côté [2014. ‘Towards a New Political Economy of Youth.’ Journal of Youth Studies 17 (4): 527–543, 2016. ‘A New Political Economy of Youth Reprised: Rejoinder to France and Threadgold.’ Journal of Youth Studies.] And France and Threadgold [2015. ‘Youth and Political Economy: Towards a Bourdieusian Approach.’ Journal of Youth Studies], and will take the form of three ‘notes’: Capitalism: From the first industrial revolution to the third industrial revolution; Youth as an artefact of governmentalised expertise; The agency/structure problem in youth studies: Foucault’s dispositif and post-human exceptionalism.
These notes will suggest that twenty-first century capitalism is globalising, is largely neo-Liberal, and is being reconfigured in profound ways by the Anthropocene, bio-genetics, Artificial Intelligence (AI), and the Internet of Things (IoT). A political economy of twenty-first century capitalism, let alone a political economy of young people, must be able to account for a capitalism that in many ways looks like the capitalism of the First and Second Industrial Revolutions, but which is at the same time profoundly different as it enters what has often been described as the Third Industrial Revolution. It is these profound emergences that pose the greatest challenges for engaging with a political economy of youth. 相似文献
This article asks whether political education at upper secondary school – i.e. shortly before or at the age when young people receive the right to vote – affects individual political interest as well as differences in political interest between social groups. Empirically, we use a novel data set combining individual student data with information on classroom-based political education as well as teacher characteristics. We do not find support for a more or less automatic and positive effect of classroom-based political education on young people’s political interest. Whereas we analyzed three dimensions of political education (knowledge, skills, arousing interest in politics), the skills dimension was the only one that exhibited a consistent positive (and mostly significant) relationship with young peoples’ political interest. Moreover, classroom-based political education seems not to compensate for a lack of political socialization at home but rather tends to affect students with politically interested parents most strongly. 相似文献