Using a dataset of listed non-state-owned enterprises in China, we show that politically connected firms have a greater difficulty in obtaining trade credit than non-connected firms. This credit discrimination against politically connected firms strengthens when firms locate in regions with...

How does previous military experience affect corporate managers’ behavior in earnings management? Using a sample of listed Chinese firms, we find that managers with military experience are associated with higher levels of earnings management, through both accrual-based and real-activities...