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Do political connections affect the environmental performance of Sharia-compliant and non-Sharia-compliant firms? Evidence from Indonesia's PROPER program

Budi Wahyono (budiwahyono@staff.uns.ac.id)
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Budi Wahyono: Universitas Sebelas Maret, Indonesia & Yamaguchi University, Japan

Economics Bulletin, 2023, vol. 43, issue 4, 1771 - 1779

Abstract: This study offers novel evidence by investigating the impact of political connections on the environmental performance of both Sharia-compliant and non-Sharia-compliant firms. We use a unique sample of firms covered by Indonesia's PROPER program over the 2013–2019 period. We find that political ties are less (more) valuable for Sharia-compliant firms (non-Sharia-compliant firms) in enhancing their environmental performance. These results are robust to testing against an alternative measure of corporate environmental performance.

Keywords: political connections; Sharia; PROPER; environmental performance; Indonesia (search for similar items in EconPapers)
JEL-codes: G3 Q5 (search for similar items in EconPapers)
Date: 2023-12-30
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