政治关联在公司治理中的作用存在"支持之手假说"与"掠夺之手假说"。基于"法与金融"理论,从政治关联的广泛存在性及其产生机理出发,对政治关联于公司价值的影响路径,包括融资便利性、危机救助、税收优惠、产权保护等,及其经济后果的相关研究进行梳理,并从企业外部治理环境、所有权性质、财务行为等方面,对进一步研究方向进行了展望。
Both of the "Supporting Hand Hypothesis" and "Privative Hand Hypothesis" focus on the relationships between political connection and corporate value. Based on "Law and Finance" theory, this paper details the cause and existence of political connection, and also details the studies on finance, crisis salvation, preferential tax and property protection which political connection will have influence on corporate value. Further, we prospect the next step of study on external governance environment proprietary rights character and finance act.