Hagar Essam Sayed Ahmed Ameria <br/><br/>
Examining the relationship between political connections, related party transactions and firm value in Egyptian listed companies :   Empirical study /  
 اختبار العلاقة بين الروابط السياسية: والمعاملات مع الأطراف ذوى العلاقة: وقيمة المنشأة فى الشركات المقيدة بالبورصة المصرية :   دراسة تطبيقية 
Hagar Essam Sayed Ahmed Ameria ; Supervised Hala Abdelnaby Abdelfattah , Nesma Ahmed Elshayeb 
 - Cairo :   Hagar Essam Sayed Ahmed Ameria ,   2020 
 - 152 Leaves :   charts , facimiles ;   30cm  
<br/><br/>Thesis (M.Sc.) - Cairo University - Faculty of Commerce - Department of Accounting 
<br/><br/> The main objective of the current research is to examine the effect of political connections and related party transactions (RPTs) on firm value. Moreover, the moderating role of RPTs on the relationship between political connections and firm value is investigated. The research sample covers a period of five years from 2014 to 2018, including 33 Egyptian firms listed in the Egyptian Stock Exchange. A Fixed Effect Model (FEM) regression is conducted to test the research hypotheses. The firm value is measured by Tobins Q as it is widely used as an indicator for the firms competitive advantages and the firms effectiveness to generate future profits. Political connections are measured by using two proxies.The first proxy is political connectivity to indicate whether the firm is politically connected or not. The second proxy for political connections is political connections strength to indicate the number of political connections in the firm. RPTs are divided into RPTs related to assets and RPTs related to liabilities.The results show that: first, there is a significant positive relationship between political connections and firm value. Second, there is a significant positive relationship between RPTs related to assets, including investments with associates and due from related parties, and firm value. Furthermore, there is an insignificant negative relationship between RPTs related to liabilities, including loans/ borrowings and due to related parties, and firm value.Third, RPTs do not moderate the relationship between political connections and firm value as all interaction variables are insignificant 
<br/><br/>
<br/><br/><label>Subjects--Index Terms: </label>Firm Value  Political Connections Related Party Transactions