... understand this issue, we examine whether the processing of political information by politically active firms is relevant to peer firm value. information transfer earnings announcements political economy political connections political information Second, the primary goal of firms in making...

... with them. ¹ accounting standards dynamic voting investments disclosure regulation political economy Accounting is a political as well as economic institution. These two aspects co-evolve through a feedback loop. Accounting standards generate economic consequences...

... as the cost of the assurance declines. Editor's note: Accepted by Mark L. DeFond. September 2016 January 2018 2019 internal control audit Sarbanes-Oxley political economy When politicians signed the Sarbanes-Oxley Act of 2002 (SOX) ( U.S. Congress 2002 ) into law...