Influencing Profits: The Differential Impact of Lobbying on Corporate Stock Returns

Hutchens, Michelle; Rego, Sonja O.; Sheneman, Amy

doi:10.2139/ssrn.2779697

Cited by 5 publications

(2 citation statements)

References 24 publications

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“…The analysis shows (Hanegraaff et al, 2016) that organisational needs, particularly the competition actors' experience for resources, have a significant impact on the relative emphasis of organised interests on inside and outside lobbying. Unlike agency issues as claimed by some earlier studies, the researchers (Hutchens et al, 2016) contend that corporate lobbying activities represent strategic political investments that produce long-term economic benefits. Business reporting practices for employee crimes like fraud, theft, and unfair competition are influenced by a number of variables,…”

Section: Factors Affecting the Effectiveness Of A Company's Managementmentioning

confidence: 85%

The Effect of External and Internal Factors on Management Effectiveness Within Indian Construction Companies

Sanchaniya,

Kundziņa,

Thomas

et al. 2023

Baltic Journal of Real Estate Economics and Construction Management

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The aim of this study is to define and clarify the idea of improving management effectiveness within Indian construction companies. We conducted an online survey with an Indian construction company and used correlation analysis to thoroughly examine how both external and internal factors affect management effectiveness. The survey includes demographic questions, ratings on a scale of 1 to 5 for management aspects, ratings on a similar scale for internal and external factors, and ratings on a similar scale for potential improvement suggestions. With the help of descriptive statistics and frequencies, the mean efficiency values were calculated using SPSS and Excel to analyse the collected data. To establish links between the variables and the effectiveness of the company, correlation analysis was also carried out. The primary conclusions of the study highlight the critical importance of focussing on employee relations, meticulous tracking of work output, integration of technology, and adherence to established protocols as key factors in improving management effectiveness. The research also reveals significant problems with the management system, such as a preference for sanctions over incentives. It establishes that internal and external factors have equal weight in influencing management effectiveness, emphasising the need for an all-encompassing strategy that is flexible enough to support long-term advancement in construction company management practices.

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Section: Factors Affecting the Effectiveness Of A Company's Managementmentioning

confidence: 85%

The Effect of External and Internal Factors on Management Effectiveness Within Indian Construction Companies

Sanchaniya,

Kundziņa,

Thomas

et al. 2023

Baltic Journal of Real Estate Economics and Construction Management

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show abstract

“…Hill et al (2013) find a positive association between lobbying expenditures and stock returns, after controlling for PAC expenditures. Hutchens et al (2016) identify lobbying on tax, defense, and health-care issues as the primary source of this positive association. Borisov et al (2016) show that the valueenhancing gains from lobbying expenditures are partially attributable to unethical practices that bias politicians rather than simply inform them.…”

Section: Value Implications Of Political Spendingmentioning

confidence: 99%

Shareholder Activism and Voluntary Disclosure Initiation: The Case of Political Spending

Baloria

Klassen

Wiedman

2019

Contemporary Accting Res

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Demand for disclosures on environmental, social, and governance (ESG) issues has increased dramatically. Using corporate political spending disclosures as our setting, we conduct a detailed inquiry of 541 political spending‐related shareholder proposals from 2004 to 2012 to highlight the role of shareholder activism as a mechanism to motivate ESG disclosure. Unlike earlier studies, we examine both proposals that went to a vote and proposals that were withdrawn by the activist, allowing us to assess more comprehensively the success of shareholder activism. We find that 20 percent of firms targeted by disclosure proposals begin disclosing in the subsequent year, although implementation rates vary by proposal type—8 percent for proposals subject to a vote versus 56 percent for proposals withdrawn. The sponsor is also important: unions and public pension funds are less likely than other activists to target firms with agency problems and are less successful in having proposals withdrawn, and the implementations they obtain are viewed more negatively by the broader investor base. Our findings highlight shareholder proposals as one mechanism through which investors can successfully express their preferences for corporate disclosure policies. Given activists' long‐standing interest in environmental and social disclosure policies, we believe our findings generalize to a broader set of ESG disclosures.

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Tax Corporate Political Activity: A Literature Review

Barrick

Brown

Alexander³

2016

SSRN Journal

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Influencing Profits: The Differential Impact of Lobbying on Corporate Stock Returns

Cited by 5 publications

References 24 publications

The Effect of External and Internal Factors on Management Effectiveness Within Indian Construction Companies

The Effect of External and Internal Factors on Management Effectiveness Within Indian Construction Companies

Shareholder Activism and Voluntary Disclosure Initiation: The Case of Political Spending

Tax Corporate Political Activity: A Literature Review

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