Using acquisition data from 2010-2018, we examine the impact of acquisitions by foreign SOEs on politically connected domestic U.S. competitors. We examine the initial response to such acquisition announcements, the attempts of industry incumbents to increase their own political connections, and...

Earnings management can be either opportunistic, adding noise to reported earnings, or informative about a firm's underlying economic performance, adding valuable information to financial reports. This study examines earnings management in banks with differing levels of information asymmetry....