The value of political capital: Dictatorship collaborators as business elites

Felipe González, Mounu Prem

Resultado de la investigación: Contribución a una revistaArtículorevisión exhaustiva

2 Citas (Scopus)

Resumen

What is the value of political capital for individuals? Towards the end of the Pinochet dictatorship in Chile, military and civilian collaborators entered the business elite, controlling the largest and most important firms in the country. Using a novel panel dataset of board members in these firms, we document an appointment premium for those who had previously collaborated with Pinochet. After democratization, however, collaborators were removed from boards and their compensation premium disappeared. These results suggest that dictatorship collaborators earn a premium in the business world in dictatorship, but not in democracy.

Idioma originalInglés estadounidense
Páginas (desde-hasta)217-230
Número de páginas14
PublicaciónJournal of Economic Behavior and Organization
Volumen155
DOI
EstadoPublicada - nov 1 2018

All Science Journal Classification (ASJC) codes

  • Economía y econometría
  • Comportamiento organizativo y gestión de recursos humanos

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