{"id":2128,"date":"2024-07-18T15:10:08","date_gmt":"2024-07-18T19:10:08","guid":{"rendered":"https:\/\/damore-mckim.northeastern.edu\/cem\/events\/nardone-speaker-series-04242015\/"},"modified":"2024-07-18T15:33:57","modified_gmt":"2024-07-18T19:33:57","slug":"nardone-speaker-series-04242015","status":"publish","type":"dmsb_event","link":"https:\/\/damore-mckim.northeastern.edu\/cem\/events\/nardone-speaker-series-04242015\/","title":{"rendered":"Nardone Seminar: Location and Timing of Corporate Strategic Investments | Rodrigo Bandeira de Mello, FGV Sao Paulo"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Location and Timing of&nbsp;Corporate Strategic Investments:&nbsp;The E\ufb00ect of Local-National Government Political Alignment in Brazil<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Rodrigo BANDEIRA DE MELLO<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Management Department, FGV Sao Paulo Business School<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">I posit that the political alignment between local and national layers of government a\ufb00ects the timing and location of corporate political investments. The intuition behind this hypothesis is that managers anticipate federal support to aligned mayors. By investing in an aligned municipality, \ufb01rms access complementary resources needed to perform their local operations, including \ufb01nancing from the state-owned bank. I test this idea using \ufb01rm level data on loans granted by the Brazilian National Development Bank (BNDES) from 2005 and 2012. I exploit discontinuities in mayoral elections to \ufb01nd that municipalities where the party of the newly elected mayor attracts more strategic investments when it supports the federal&nbsp;government in congress than municipalities where the newly elected mayor belongs to the opposition party group in Federal Congress. I also \ufb01nd that this e\ufb00ect follows the electoral cycle, and that the greater the complexity of the project being developed, the more likely the \ufb01rm will invest in an aligned municipality.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Location and Timing of Corporate Strategic Investments: The Effect of Local-National Government Political Alignment in Brazil<\/p>\n<p>Rodrigo BANDEIRA DE MELLO<\/p>\n<p>Management Department, FGV Sao Paulo Business School<\/p>\n","protected":false},"featured_media":2129,"template":"","meta":{"post_unlisted":false,"post_preheader":"","post_footer":"","snapshot_data":"","footnotes":"","dmsb_screen_reader_heading":"","hide_preheader":false,"hide_excerpt":false,"hide_date":false,"hide_taxonomies":false},"category":[7],"dmsb_audience":[66,65,64],"dmsb_group":[],"dmsb_event_series":[12],"class_list":["post-2128","dmsb_event","type-dmsb_event","status-publish","has-post-thumbnail","hentry","category-latin-america","dmsb_audience-academics","dmsb_audience-practitioners","dmsb_audience-students","dmsb_event_series-nardone-family-seminar"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Nardone Seminar: Location and Timing of Corporate Strategic Investments | Rodrigo Bandeira de Mello, FGV Sao Paulo - April 24, 2015<\/title>\n<meta name=\"description\" content=\"Location and Timing of Corporate Strategic 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