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Who were the participants in this sample?

All firms listed on the IDX that are included in the OSIRIS and Indonesian Capital Market Data (ICMD)
databases for the period 2003-2012. All financial data are from OSIRIS and auditor data are from ICMD.
Country-level variables are from the World Governance Index (WGI).

What makes them unique?

They must pass several criteria. First, due to the different nature of financial statements, we exclude all
firms in financial industries (SIC 6). Second, we require no missing data for all variables used in this
study. Finally, we exclude all firms whose fiscal year does not end in December.

Is the sample a good representation of the entire population? If not, how are they different?

No, in that sample of Indonesian firms, they match 22 firms to Faccio’s data as having political
connections. This leaves 327 firms classified as non-politically connected firms. All of
the politically connected firms in our sample are connected through ownership of the
firm by a minister or member of Parliament (MP), or someone closely related to a
minister or an MP

Is the study qualitative (based on interviews, ethnography, participant observation, or content analysis),
quantitative (based on statistical analysis), or multi-method (includes both qualitative and quantitative

multi-method (includes both qualitative and quantitative analysis)