(presidential) party to proxy for local firms' proximity to political power. Firms whose headquarters are located in high PAI states … with the notion that proximity to political power has stock return implications because it reflects firms' exposure to …

text of these disclosures and we create a database to facilitate our examination of the impact of bargaining power on the … stressed by current operating losses to proxy for weakness in the firm's bargaining power with suppliers. We find that changes … operating profits (losses). We find that financial analysts do not fully impound information about buyer bargaining power when …