Corporate Lobbying Revisited
AbstractUsing a panel data of S&P 500 Index firms covering 1998-2004, this paper compares the determinants of lobbying expenditures and campaign contributions and estimates the returns to lobbying as assessed by the financial market. Lobbying depends more on managerial incentives and protection needs beyond industry structures than contributions do. Lobbying also has a positive effect on the firm's equity returns relative to the market and, to a lesser degree, relative to its industry.
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Bibliographic InfoArticle provided by De Gruyter in its journal Business and Politics.
Volume (Year): 10 (2008)
Issue (Month): 2 (September)
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Web page: http://www.degruyter.com
Other versions of this item:
- L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
- M2 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics
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