Campaign Contributions over CEOs' Careers-Reference-Cited by-同舟云学术

Campaign Contributions over CEOs' Careers

Published:2013-07-01 Issue:3 Volume:5 Page:170-188
ISSN:1945-7782
Container-title:American Economic Journal: Applied Economics
language:en
Short-container-title:American Economic Journal: Applied Economics

Author:

Fremeth Adam¹,Richter Brian Kelleher²,Schaufele Brandon³

Affiliation:

1. Richard Ivey School of Business, University of Western Ontario, 1151 Richmond Street North, London, Ontario, Canada, N6A 3K7.

2. McCombs School of Business, University of Texas at Austin, 2110 Speedway, B6500, CBA 5.250, Austin, TX 78712-0177.

3. Department of Economics and Institute of the Environment, University of Ottawa, 120 University, Faculty of Social Sciences Building, Ottawa, Ontario, Canada, K1N 6N5.

Abstract

Individuals dominate money in politics, accounting for over 90 percent of campaign contributions, yet studies of drivers of individuals' giving are scarce. We analyze data on all contributions made between 1991 and 2008 by all 1,556 people who became S&P 500 CEOs during that interval. We exploit variation in leadership status over these individuals' careers to identify that being an S&P 500 CEO causes a $4,029 or 137 percent jump per election cycle in personal giving. While some fraction of CEOs' contributions can be attributed to long-standing preferences, the striking changes in behavior cannot be explained by these factors alone. (JEL D72, G34)

Publisher

American Economic Association

Subject

General Economics, Econometrics and Finance

Link

https://pubs.aeaweb.org/doi/pdf/10.1257/app.5.3.170

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