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Corporate Lobbying Revisited

  • Kim Jin-Hyuk

    (Cornell University)

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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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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  12. Drope Jeffrey M & Hansen Wendy L, 2006. "Does Firm Size Matter? Analyzing Business Lobbying in the United States," Business and Politics, De Gruyter, vol. 8(2), pages 1-19, August.
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  17. Tripathi Micky & Ansolabehere Stephen & Jr James M. Snyder, 2002. "Are PAC Contributions and Lobbying Linked? New Evidence from the 1995 Lobby Disclosure Act," Business and Politics, De Gruyter, vol. 4(2), pages 1-26, August.
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