"Evidence from firms in 47 countries shows that companies with political connections have higher leverage and higher market shares, but they underperform compared to nonconnected companies on an accounting basis. Differences between connected and unconnected firms are more pronounced when...

In 1984, Ivan Boesky purchased 1.7 million shares of Carnation's stock on the basis of illegally obtained insider information. The events and data allow testing of the impact of informed trading on share prices and market liquidity. A positive and significant relation is found between Boesky's...