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Article
Publication date: 7 June 2021

Serkan Karadas, Minh Tam Tammy Schlosky and Joshua C. Hall

What information do members of Congress (politicians) use when they trade stocks? The purpose of this paper is to attempt to answer this question by investigating the…

Abstract

Purpose

What information do members of Congress (politicians) use when they trade stocks? The purpose of this paper is to attempt to answer this question by investigating the relationship between an aggregate measure of trading by members of Congress (aggregate congressional trading) and future stock market returns.

Design/methodology/approach

The authors follow the empirical framework used in academic work on corporate insiders. In particular, they aggregate 61,998 common stock transactions by politicians over the 2004–2010 period and estimate time series regressions at a monthly frequency with heteroskedasticity and autocorrelation robust t-statistics.

Findings

The authors find that aggregate congressional trading predicts future stock market returns, suggesting that politicians use economy-wide (i.e. macroeconomic) information in their stock trades. The authors also present evidence that aggregate congressional trading is related to the growth rate of industrial production, suggesting that industrial production serves as a potential channel through which aggregate congressional trading predicts future stock market returns.

Originality/value

To the best of the authors’ knowledge, this study is the first to document a relationship between aggregate congressional trading and stock market returns. The media and scholarly attention on politicians’ trades have mostly focused on the question of whether politicians have superior information on individual firms. The results from this study suggest that politicians’ informational advantage may go beyond individual firms such that they potentially have superior information on the overall trajectory of the economy as well.

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Book part
Publication date: 10 December 2012

Sheri Kunovich and Amanda Wall

We examine the extent to which female politicians highlight their status as women by identifying with women as a group and using female roles and experiences to describe…

Abstract

We examine the extent to which female politicians highlight their status as women by identifying with women as a group and using female roles and experiences to describe themselves. Based on a qualitative content analysis of female members’ congressional web pages, we find that sex-group identification and gender roles are selectively used in discussions of their personal lives, their paths to Congress, and their experiences within Congress. Variation among the female politicians suggests they are responding to a range of normative gender beliefs among the electorate. There is also evidence that some of the women use online forms of communication to change the discourse about women in politics.

Details

Linking Environment, Democracy and Gender
Type: Book
ISBN: 978-1-78190-337-7

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Book part
Publication date: 11 December 2006

Anne Krogstad and Aagoth Storvik

We take as our point of departure Weber's well-known taxonomy of forms of authority (Weber, 1947; 1968). Traditional authority, which first of all characterizes pre-modern…

Abstract

We take as our point of departure Weber's well-known taxonomy of forms of authority (Weber, 1947; 1968). Traditional authority, which first of all characterizes pre-modern societies, is based on inherited privileges and positions. Legal authority, which is often termed rational and bureaucratic, is based on position and competence. In addition, it is impersonal. By contrast, charismatic authority is personal, not positional. It has one main feature, authority legitimated by the appeal of leaders who claim allegiance because of the force of their extraordinary personalities. Weber saw this kind of authority as liberation from the alienation, which the bureaucratic “iron cage” represented. The essence of charisma is a sort of life and vitality, which is the opposite of the formality of bureaucracy and the roles and conventions of traditional society (Weber, 1968, p. 24). Consequently, charisma implies a sort of renewal. According to one of Weber's most heavily quoted passages, charisma is based on “the devotion to the exceptional sanctity, heroism or exemplary character of an individual person, and of the normative patterns or order revealed or ordained by him” (Weber, 1968, p. 46). The charismatic leader has, in other words, exceptional qualities and is accordingly “set apart from ordinary men and treated as endowed with supernatural, superhuman, or at least specifically exceptional powers or qualities” (Weber, 1968, p. 48).

Details

Comparative Studies of Social and Political Elites
Type: Book
ISBN: 978-1-84950-466-9

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Book part
Publication date: 24 October 2003

Anne Krogstad and Kirsten Gomard

Political communication is not first and foremost about truth; it is a struggle for power and influence between different interests. In this struggle, it is critical for…

Abstract

Political communication is not first and foremost about truth; it is a struggle for power and influence between different interests. In this struggle, it is critical for politicians to persuade voters, and not just by the power of their argument, but also, and increasingly, through creating trust by means of their personality. In this study we will focus on how politicians attend to these concerns in televised election campaign debates in the Nordic countries. Ideally, political debates provide politicians with equal opportunities for airing their positions. This linguistic ideal of fairness has more elaborate equivalents in established theories of discourse, such as the theory of the ideal speech situation proposed by Habermas (1975a, b), Paul Grice’s maxims for efficient and logical communication (Grice, 1975), and the face-saving traffic rules of social interaction analyzed by Goffman (1967). However, this rudimentary standard of fairness is rarely satisfied in practice (Gastil, 1992). Rather than granting all participants equality, debates often become events in which prior inequalities, such as gender, age, class and status, are re-enacted (Edelsky & Adams, 1990). The question we are pursuing in this article is whether and how such “brought along” features are made relevant, or “brought about” in actual debate situations.

Details

Comparative Studies of Culture and Power
Type: Book
ISBN: 978-0-76230-885-9

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Book part
Publication date: 22 October 2020

Stamatis Poulakidakos

Through social media communities, politicians communicate personal or even private information and seek to take advantage of the possibilities to connect with both…

Abstract

Through social media communities, politicians communicate personal or even private information and seek to take advantage of the possibilities to connect with both influential personalities and ordinary people. Politicians' Instagram use can be understood as a way of producing visual flows of professional, personal and private practices.

The current research seeks to compare the ways in which the leaders of the three major political parties in Greece (New Democracy, SYRIZA and KINAL) form their ‘image’ through their Instagram posts during a multiple consecutive elections (pre-)electoral period (2019 European, Prefectural/Municipal and general elections) and a nonelectoral period (2018), in order to trace similarities and differences in the communication strategies of the abovementioned politicians during these periods. Among others, politicians post private aspects of their lives during both periods; they focus predominantly on the formation of a positive self-image, instead of attacking their political opponents and increase the number of personal images during the (pre-)electoral period of our study.

Details

The Emerald Handbook of Digital Media in Greece
Type: Book
ISBN: 978-1-83982-401-2

Keywords

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Article
Publication date: 27 July 2020

Tal Samuel-Azran and Moran Yarchi

This study examines the impact of gender on Facebook campaign strategies and the reception of these strategies during the 2018 Israeli municipal elections.

Abstract

Purpose

This study examines the impact of gender on Facebook campaign strategies and the reception of these strategies during the 2018 Israeli municipal elections.

Design/methodology/approach

The authors analyzed all the messages posted on 48 politicians' official Facebook pages during the week leading up to the elections. They analyzed messages posted by 152 candidates running for the position of head of a municipality, 68 of whom were women (48 had an active Facebook account), examining the amount of engagement they had created. The authors also analyzed the candidates' use of rhetoric and use of negative campaigning and the engagement it created.

Findings

Analysis of the overall engagement of Facebook users in respect to men versus women politicians showed that men politicians' posts were significantly more engaging in terms of the number of likes and shares they generated, although the multilevel analysis found no significant differences between engagement in the posts of men and women politicians. The Aristotelian rhetoric analysis revealed no significant differences between women and men contenders; however, in line with the role incongruity theory, the engagement analysis found that male candidates' logic-based posts attracted significantly more shares. The negative campaigning analysis found that, contrary to the study’s hypothesis, female candidates posted twice as many messages, attacking their opponents as their men counterparts. However, in line with the hypothesis based on the role incongruity theory, these posts gained significantly less engagement than those of their men counterparts.

Originality/value

The study highlights that female candidates do not conform to their perceived gender role as soft, emotional, and gentle in their social media campaigning. However, in line with role incongruity theory, they were not rewarded for this “unwomanly” behavior because they gained significantly less engagement with their logic-based posts and their attacks against other candidates than their men counterparts. Despite the fact that prior studies have indicated the potential of social networks service (SNS) to empower women leaders, the findings of the study highlight the continued gender discrimination and the validity of role incongruity theory during social media campaigning, particularly at the municipal elections level.

Details

Online Information Review, vol. 44 no. 6
Type: Research Article
ISSN: 1468-4527

Keywords

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Article
Publication date: 6 February 2020

Michael Greiner and Jaegul Lee

This paper aims to help executives understand how to interact with government in today’s chaotic political environment.

Abstract

Purpose

This paper aims to help executives understand how to interact with government in today’s chaotic political environment.

Design/methodology/approach

This paper is based upon voluminous research analyzing a unique data set downloaded from a number of sources, including the financial reports of public companies and the contribution reports filed by political action committees and candidates for Congress.

Findings

This study found that political decision-making is constrained by a set of institutions the authors call the political landscape. This framework includes three factors that businesses looking to influence government and the elected officials themselves must consider: the politicians’ ideology, the political trends of their constituency and their existing relationships. While these factors constrain the ability of politicians and business advocates to successfully pursue certain policy positions, businesses may be able to influence these factors through effective political activism, and in so doing, they may be able to push key government decision-makers to alter their positions.

Practical implications

This research will help executives understand how government operates in this new era of uncertainty. Being able to read the political landscape will enable business leaders to anticipate and perhaps even mitigate governmental threats to their business.

Originality/value

This research updates the market theory of politics which has received limited empirical support. It is especially valuable in the wake of Supreme Court’s decisions that have increased the potential for business to impact politics.

Details

Journal of Business Strategy, vol. 42 no. 1
Type: Research Article
ISSN: 0275-6668

Keywords

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Article
Publication date: 1 August 2006

Benjamin Osayawe Ehigie, Ibidolapo Abimbola Kolade and Olukayode Ayooluwa Afolabi

To examine how personality dispositions of Nigerian politicians predict their attitude to the wellbeing of citizens.

Abstract

Purpose

To examine how personality dispositions of Nigerian politicians predict their attitude to the wellbeing of citizens.

Design/methodology/approach

A survey research was embarked that engaged 185 political aspirants to various electoral positions in the 2003 Nigerian elections. Respondents were administered a standardized psychological instrument that measures four personality attributes – needs for achievement, affiliation, dominance, and autonomy. They also responded to another standardized instrument that measures attitude to wellbeing of people.

Findings

Hierarchical multiple regression analyses conducted showed that gender and age are significant predictors of politicians' attitudes to wellbeing of the people. Male and younger politicians are more favorably disposed to people's wellbeing than female and older politicians. Among the personality attributes only need for achievement significantly accounted for variations in attitude to people's wellbeing. Specifically, the lower politicians are in need of achievement the more favorably disposed they are to people's wellbeing.

Research limitations/implications

The research participants are not completely representative of politicians in Nigeria because the sample was drawn from the Southwest only. In addition, the personality attributes examined are not exhaustive as there are other possible attributes that could predict politicians' attitudes to citizens' wellbeing. There is also a limit to which results on attitude can be used to predict actual behavior of politicians to people's wellbeing.

Practical implications

The study demonstrates the need for psychological tests in Nigeria's electoral process. It demonstrates that personality attributes of politicians could be assessed and used to predict their concern for citizens' wellbeing. It is opined that, where politicians are more concerned with the citizens' wellbeing, it could enhance the sustainability of democracy in Nigeria.

Originality/value

The paper demonstrates a dimension of psychological testing in Nigeria's electoral process.

Details

International Journal of Public Sector Management, vol. 19 no. 5
Type: Research Article
ISSN: 0951-3558

Keywords

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Article
Publication date: 12 October 2015

Reza Houston and Stephen Ferris

The purpose of this paper is to analyze the value of corporate political connections resulting from the revolving door of employment between political office and the…

Abstract

Purpose

The purpose of this paper is to analyze the value of corporate political connections resulting from the revolving door of employment between political office and the for-profit corporation. The authors test whether there is value to firms from political connections provided by the appointment of former politicians to corporate boards or management teams. The authors also test to see if passage through the door in the other direction, from the corporate world to public office, generates value for firms. Do firms whose former employees gain public office earn excess returns following their appointment or election to these positions?

Design/methodology/approach

The methodology used in this study focusses on an empirical analysis of the political connections of US firms over the sample period 1996-2011. The analysis emphasizes the wealth effects associated with the announcement of hiring former politicians to corporate boards or the gaining of political office by former corporate employees.

Findings

The authors find that politicians becoming corporate directors is 2.5 times more common than corporate executives gaining public office. The authors determine that industries with extensive government regulation most often hire former politicians. The authors find that the office held by former politicians matters. The authors find that longevity in a cabinet position is important while formal Congressional or Senate leadership positions are not. Surprisingly, the authors determine the longer politicians are out of office, the more value they are able to provide to the firm. Finally, the authors discover that firms which hire former politicians have significantly positive long-term abnormal returns, but firms whose managers enter politics do not.

Originality/value

This study is highly original in its examination of political connections resulting from door swing in both directions. Further, the analysis of longevity, time out of office, and position held adds to the contributions made by this study.

Details

Managerial Finance, vol. 41 no. 10
Type: Research Article
ISSN: 0307-4358

Keywords

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Article
Publication date: 9 November 2015

Katarina Michnik

Public library issues are often described as being of low political priority. Yet circumstances differ for different communities; public library issues may receive varying…

Abstract

Purpose

Public library issues are often described as being of low political priority. Yet circumstances differ for different communities; public library issues may receive varying political attention. The purpose of this paper is to study how Swedish public library managers describe local politicians’ attention to public library issues and to identify which municipal circumstances, such as political organization, population, and finances, seem to matter for how local politicians’ attention is described.

Design/methodology/approach

The empirical data were collected through a web-based questionnaire sent to all public library managers in Sweden. To identify the described political attention, a content analysis was done. A multinominal logistic regression analysis was performed to analyze the municipal circumstances that seem to matter for how political attention is described.

Findings

A small majority of public library managers described the local political attention as strong or quite strong. Three factors seem to matter for how the attention is described: political organization, existence of a library plan, and population size. In the discussion personal factors, such as the politicians’ personal interest and public library managers’ experience, are brought up as possibly being of considerable importance.

Originality/value

Several studies have been conducted on how politicians perceive public libraries; in these studies, the politicians are mainly treated as a unified group. This paper shows that the political approach to public library issues is described as different in different municipal circumstances.

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