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Budi Wahyono
''Do political connections affect the environmental performance of Sharia-compliant and non-Sharia-compliant firms? Evidence from Indonesia's PROPER program''
( 2023, Vol. 43 No.4 )
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
JEL: G3 - Corporate Finance and Governance: General
Q5 - Environmental Economics: General
Manuscript Received : Aug 31 2022 Manuscript Accepted : Dec 30 2023

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