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Book part
Publication date: 3 May 2016

Adam Fremeth, Brian Kelleher Richter and Brandon Schaufele

Campaign contributions are typically seen as a strategic investment for firms; recent empirical evidence, however, has shown few connections between firms’ contributions…

Abstract

Campaign contributions are typically seen as a strategic investment for firms; recent empirical evidence, however, has shown few connections between firms’ contributions and regulatory or performance improvements, prompting researchers to explore agency-based explanations for corporate politics. By studying intrafirm campaign contributions of CEOs and political action committees (PACs), we investigate two hypotheses related to public politics and demonstrate that strategic and agency-based motivations may hold simultaneously. Exploiting transaction-level data, with over 6.8 million observations, we show that (i) when PACs give to specific candidates, executives give to the same candidates, especially those who are strategically important to the firm; and (ii) when executives give to candidates who are not strategically important, PACs give to the same candidates potentially due to agency problems within the firm.

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Book part
Publication date: 3 May 2016

Abstract

Details

Strategy Beyond Markets
Type: Book
ISBN: 978-1-78635-019-0

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Book part
Publication date: 3 May 2016

Abstract

Details

Strategy Beyond Markets
Type: Book
ISBN: 978-1-78635-019-0

To view the access options for this content please click here
Book part
Publication date: 3 May 2016

Abstract

Details

Strategy Beyond Markets
Type: Book
ISBN: 978-1-78635-019-0

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