This paper investigates politically connected rms in Germany. With the in-troduction of a new transparency law in 2007, information on additional incomesources for all members of the German parliament became publicly available.We nd that members of the conservative party (CDU/CSU) and the...

This paper investigates whether newspapers report more favorably about advertising corporate clients than about other firms. Our identification strategy based on high-dimensional fixed effects and high frequency advertising data shows that advertising leads to more positive press coverage. This...