Recent studies have documented systematic exchanges of favors between politicians and firms, and that connected firms, on average gain from political ties. Since these ties are often to a top manager or large shareholder, agency problems are likely more severe for politically connected firms....

We document that the quality of earnings reported by politically connected firms is significantly poorer than that of similar non-connected companies. Moreover, we find that earnings quality has no predictive power for the likelihood of establishing connections. Hence, we rule out that our...

We document that the quality of earnings reported by politically connected firms is significantly poorer than that of similar non-connected companies. Our results are not due to firms with ex-ante poor earnings quality establishing connections more often. Instead, our results suggest that,...

We document that the quality of earnings reported by politically connected firms is significantly poorer than that of similar non-connected companies. Our results are not due to firms with ex-ante poor earnings quality establishing connections more often. Instead, our results suggest that,...

Many firms voluntarily incur the costs of attempting to influence politicians. However, estimates of the value of political connections have been made in only a few cases. We propose a new approach to valuing political ties that builds on these previous studies. We consider connected to a...

Analysis of a worldwide sample of sudden deaths of politicians reveals a market-adjusted 1.7% decline in the value of companies headquartered in the politician's hometown. The decline in value is followed by a drop in the rate of growth in sales and access to credit. Our results are particularly...

This study explores the level of attention (‘issue-salience’) and use of language (‘policy framing’) related to tourism in political parties’ manifestos in Scottish, Welsh and Northern Irish elections in the UK. The findings reveal significant increases in the salience of tourism as an...

This study addresses a key lacuna by exploring the role of electoral politics in shaping public policy on rail transport in (quasi-)federal systems of governance. Attention centres on issue-salience and policy framing in party manifestos in state-wide and regional elections. The findings reveal...

type="main" <p>Despite sustained public demand for parties to act, the environment has been subject to limited issue salience in UK state-wide elections. This article uses qualitative and quantitative methods to explore party politicisation of the environment in regional elections 1998–2011....</p>