Politically Connected Firms
对47个国家企业的研究发现，控股股东和高管与议会或政府存在广泛关联，尤其在腐败严重、外资受限的国家；此类关联在官员行为受限时减少，且新政治关联的宣布会显著提升企业价值。
Examination of firms in 47 countries shows a widespread overlap of controlling shareholders and top officers who are connected with national parliaments or governments, particularly in countries with higher levels of corruption, with barriers to foreign investment, and with more transparent systems. Connections are diminished when regulations set more limits on official behavior. Additionally, I show that the announcement of a new political connection results in a significant increase in value.