Politically Connected Cos. Face Lower SEC Threat, Study Says
Law360, New York (August 13, 2014, 8:30 PM EDT) -- Politically connected firms are less likely to be targeted by Securities and Exchange Commission enforcement actions, according to a new paper by a London Business School professor, who says that contributions to politicians who can influence the SEC are especially effective at reducing the threat.
According to the paper published earlier this year by Maria M. Correia, assistant professor of accounting at the university, long-term political action committee contributions and lobbying are associated with a lower likelihood of enforcement for companies that make restatements in SEC filings. Correia based her analysis on data gathered from the Federal Election Commission, the Senate’s...
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