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This paper develops a lobbying-by-firms model that draws on a more realistic characterization of the lobbying process …, modeling approach furnishes theoretical support for why one encounters different numbers of lobbying firms of varying sizes in …) casting out the role of money from the lobbying process. Theoretical legs are also furnished for the empirical finding of a …
Persistent link: https://www.econbiz.de/10010230932
This paper introduces an alternative to the lobbying literature's standard assumption that money buys policies. Our … much stronger lobbying incentives weaken the free-rider problem and raise incentives for lobby formation. Third, the model … yields testable hypotheses on: the determinants of lobbying incentives; the number of lobbying firms in an industry; and the …
Persistent link: https://www.econbiz.de/10010308242
We examine how political connections impact the process of going public. Specifically, we test how political connections impact the pricing of newly offered shares, the magnitude of underpricing, and the fixed cost of going public. Based on experiences of the new public firms in the Chinese...
Persistent link: https://www.econbiz.de/10013158388
This paper develops a lobbying-by-firms model that draws on a more realistic characterization of the lobbying process …, modeling approach furnishes theoretical support for why one encounters different numbers of lobbying firms of varying sizes in …) casting out the role of money from the lobbying process. Theoretical legs are also furnished for the empirical finding of a …
Persistent link: https://www.econbiz.de/10010954748
This paper introduces an alternative to the lobbying literature's standard assumption that money buys policies. Our … much stronger lobbying incentives weaken the free-rider problem and raise incentives for lobby formation. Third, the model … yields testable hypotheses on: the determinants of lobbying incentives; the number of lobbying firms in an industry; and the …
Persistent link: https://www.econbiz.de/10009652727
Assuming that interest groups, like households, firms, or any other structured organization, have limited resources but broad objectives, how do they pick and choose which regulatory battles to fight? The issue of interest group battle choice has received little direct attention in the...
Persistent link: https://www.econbiz.de/10014056983
We contribute to the political economy of public sector growth by integrating the analysis of three factors: (i) the 'demand' for government, stemming from attempts to coercively redistribute as well as from the ordinary demand for public services, often analyzed in a median voter framework;...
Persistent link: https://www.econbiz.de/10014069385
We study the value of the political connections of directors on Chinese boards. We build a new dataset that measures connections of directors to members of the Politburo via past school ties, and find that private firms with politically connected directors in the boardroom get on average about...
Persistent link: https://www.econbiz.de/10013403827
This paper introduces an alternative to the lobbying literature's standard assumption that money buys policies. Our … much stronger lobbying incentives weaken the free-rider problem and raise incentives for lobby formation. Third, the model … yields testable hypotheses on: the determinants of lobbying incentives; the number of lobbying firms in an industry; and the …
Persistent link: https://www.econbiz.de/10013109450
We establish the relationship between property rights and income inequality within 22 former European colonies. The key, unexpected result is: stronger property rights are associated with higher income inequality levels. We provide plausible explanations for these findings
Persistent link: https://www.econbiz.de/10012718026