Do Powerful Politicians Cause Corporate Downsizing?
---- Acknowledgements -----
We would like to thank Stephen Ansolabehere, Malcolm Baker, Utpal Bhattacharya, Bo Becker, Dan Bergstresser, John Campbell, Jon Carmel, John Cochrane, Randy Cohen, Shawn Cole, Jess Cornaggia, Stefano DellaVigna, Ray Fisman, Fritz Foley, Ken Froot, Eitan Goldman, David Goldreich, Rick Green, Chris Leach, Thomas Philippon, Julio Rotemberg, Al Roth, Rick Ruback, Huntley Schaller, Chester Spatt, Erik Stafford, Jeremy Stein, Anjan Thakor, Tuomo Vuolteenaho, Eric Zitzewitz, and seminar participants at Colorado, Georgia Tech, Harvard Business School, Indiana, Michigan, Penn State, Rotterdam, Singapore Management University, Texas, Tilburg, Toronto, UCLA, the NBER Political Economy Meeting, the Washington University Corporate Finance Conference, the UBC Summer Finance Conference, the Financial Research Association (FRA) Conference, and the Utah Winter Finance Conference for helpful comments and discussions. We also thank David Kim for excellent research assistance. We are grateful for funding from the National Science Foundation. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.