Corporate Political Donations: Investment or Agency?

By Rajesh Aggarwal, Felix Meschke, T. Wang. Business and Politics, 2012

275 citations recorded by the source corpus.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/67c09e5356663b5ea9fbbfd4befd1dc7b0d9634c

Citations in the corpus

• A Review of the Nonmarket Strategy Literature (2016, unknown): “Aggarwal, Meschke, and Wang (2012) failed to find any positive effect of investments in political donations on performance; instead, firms holding large amounts of free cash flows engaged in more political donations and less R&D and investment spending, which could be attributed to agency problems.”
• Political activity and firm performance within nonmarket research: A review and international comparative assessment (2015, unknown): “Similarly two studies (Aggarwal et al., 2011; Hadani & Schuler, 2013) reported negative outcomes of CPA in the”
• Corporate donations and shareholder value (2017, unknown): “Other evidence is more in line with the agency theory: political donations are negatively associated with returns (Faccio, 2010; Aggarwal et al., 2012) and political donations in the US are associated with a free cash flow problem, worse corporate governance, and a higher number of poor…”