I show that lobbying generates negative externalities, which affect non-lobbying companies. When a piece of new … legislation passes in Congress, non-lobbying companies in aggregate lose $1.9bn in market value. I obtain this result using a … novel dataset combining comprehensive information on corporate lobbying activity with congressional activity on bills. To …

I show that institutional investors can facilitate corporate lobbying. Firms with greater lobbying institutional … ownership lobby more. Using a novel dataset with lobbying information on specific congressional bills, I observe that …’ lobbying support. Bills lobbied by institutions are more likely to pass compared to bills only lobbied by firms. The passage of …

Using an event study, we examine whether the stock market considers corporate lobbying to be a value-enhancing activity …, we show that a firm that spends $100,000 more on lobbying in the three years prior to 2006, experiences a loss of about … lobbying may arise from potentially unethical practices …

Using an event study, we examine whether the stock market considers corporate lobbying to be a value-enhancing activity …, we show that a firm that spends $100,000 more cumulatively on lobbying in the three years prior to 2006, experiences a … lobbying may arise from potentially unethical practices …

Using a model of repeated agency, we explain previously unexplained features of the real-world lobbying industry …. Lobbying is divided between direct representation by special interests to policymakers, and indirect representation where … analytical structure allows us to explain several trends in lobbying. For example, using the observation that in the U.S. over …

We develop a model of legislative lobbying where policy proposals are endogenous. We show that a policy proposer with … Groseclose and Snyder (1996)-type lobbying models with exogenous policy proposals can turn into a second-mover disadvantage when …

In this chapter, our goal is to discuss whether and how bank lobbying in the United States leads to regulatory capture …. First, we provide an overview of the importance of and motivations behind bank lobbying. Second, we examine the impact of … lobbying on banking regulation and supervision by reviewing recent empirical evidence. Third, we discuss the effect of the …