Utilizing the random effects model and Faccio (2010)’s methodology for classifying political connections, I find that politically connected Southeast Asian firms tend to have higher taxes and accounting performance than non-politically connected firms. The type of connection matters, with state-ownership producing the strongest benefits for market share. Contingent country-level variables, such as the economy, corruption, and the legal environment, also influence the value of corporate political ties. I find that Faccio (2010)’s results are likely more economically important than mine, even when controlling for the panel data effect.