		(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)	(13)	(14)	(15)	(16)	(17)	(18)	(19)	(20)	(21)	(22)	(23)	(24)	(25)	(26)	(27)	(28)	(29)	(30)	(31)	(32)	(33)
VARIABLES	LABELS	1-day compound abnormal return (30-day index-SBF120 model)	1-day compound abnormal return (30-day index-SBF120 model)	1-day compound abnormal return (30-day index-SBF120 model)	1-day compound abnormal return (30-day index-SBF120 model)	Disclosed to the AMF in less than 5 business days	Disclosed to the AMF in less than 5 business days	Disclosed to the AMF in less than 5 business days	Disclosed to the AMF in less than 5 business days	Days to next firm results announcements	Days to next firm results announcements	Days to next firm results announcements	Days to next firm results announcements	1-day compound abnormal return (30-day index-SBF120 model)	1-day compound abnormal return (30-day index-SBF120 model)	Disclosed to the AMF in less than 5 business days	Disclosed to the AMF in less than 5 business days	Days to next firm results announcements	Days to next firm results announcements	1-day compound abnormal return (30-day index-SBF120 model)	Disclosed to the AMF in less than 5 business days	Days to next firm results announcements	1-day compound abnormal return (30-day index-SBF120 model)	1-day compound abnormal return (30-day index-SBF120 model)	1-day compound abnormal return (30-day index-SBF120 model)	Disclosed to the AMF in less than 5 business days	Disclosed to the AMF in less than 5 business days	Disclosed to the AMF in less than 5 business days	Days to next firm results announcements	Days to next firm results announcements	Days to next firm results announcements	1-day compound abnormal return (30-day index-SBF120 model)	Disclosed to the AMF in less than 5 business days	Days to next firm results announcements
																																		
inter	Sarkozy affiliate $\times$ Post-election	0.008**	0.008**	0.007*	0.007*	-0.051	-0.039	-0.052	-0.067**	-46.082**	-34.131*	-27.562	-34.061*	0.007**	0.004**	-0.059	-0.095*	-30.586*	-45.601**	0.005*	-0.147**	-36.540**	0.010**	0.010**	0.010**	-0.126**	-0.126**	-0.124*	-43.700**	-47.249**	-45.756**	0.008**	-0.094	-50.604**
		(0.004)	(0.004)	(0.004)	(0.004)	(0.035)	(0.035)	(0.033)	(0.031)	(17.406)	(17.210)	(19.055)	(19.132)	(0.003)	(0.002)	(0.038)	(0.053)	(18.065)	(17.046)	(0.002)	(0.058)	(16.469)	(0.004)	(0.004)	(0.005)	(0.054)	(0.059)	(0.066)	(20.232)	(22.077)	(22.353)	(0.004)	(0.061)	(20.560)
																																		
Exclusion-restriction		2 most influential Sarkozy affiliates	3 most influential Sarkozy affiliates	4 most influential Sarkozy affiliates	5 most influential Sarkozy affiliates	2 most influential Sarkozy affiliates	3 most influential Sarkozy affiliates	4 most influential Sarkozy affiliates	5 most influential Sarkozy affiliates	2 most influential Sarkozy affiliates	3 most influential Sarkozy affiliates	4 most influential Sarkozy affiliates	5 most influential Sarkozy affiliates	Top traders	DFBETA	Top traders	DFBETA	Top traders	DFBETA	Top 5% dependent variable	Top 5% dependent variable	Top 5% dependent variable	30 days to election	60 days to election	90 days to election	30 days to election	60 days to election	90 days to election	30 days to election	60 days to election	90 days to election	Weighting	Weighting	Weighting
Robust standard errors in parentheses																																		
*** p<0.01, ** p<0.05, * p<0.1																																		
