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Corporate Lobbying Revisited

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  • Kim Jin-Hyuk

    (Cornell University)

Abstract

Using 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 Info

Article provided by De Gruyter in its journal Business and Politics.

Volume (Year): 10 (2008)
Issue (Month): 2 (September)
Pages: 1-25

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Handle: RePEc:bpj:buspol:v:10:y:2008:i:2:n:3

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Cited by:
  1. Lawton, Thomas & Rajwani, Tazeeb & Doh, Jonathan, 2013. "The antecedents of political capabilities: A study of ownership, cross-border activity and organization at legacy airlines in a deregulatory context," International Business Review, Elsevier, vol. 22(1), pages 228-242.
  2. Ozer, Mine, 2010. "Top management teams and corporate political activity: Do top management teams have influence on corporate political activity?," Journal of Business Research, Elsevier, vol. 63(11), pages 1196-1201, November.

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