Abstract

http://ssrn.com/abstract=1878653
 
 

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Corporate Lobbying, Political Connections, and the 2008 Troubled Asset Relief Program


Benjamin M. Blau


Utah State University - Huntsman School of Business

Tyler Brough


Utah State University

Diana Weinert Thomas


Creighton University

September 30, 2011


Abstract:     
Political involvement has long been shown to be a profitable investment for firms that seek favorable regulatory conditions or support in times of economic distress. But how important are different types of political involvement for the timing and magnitude of political support? To answer this question, we take a comprehensive look at the lobbying expenditures and political connections of banks that were recipients of government support under the 2008 Troubled Asset Relief Program (TARP). We find that firms that lobbied or had other types of political connections were not only more likely to receive TARP funds, they also received a greater amount of support earlier than firms that were not politically involved through lobbying or direct political connections. For every dollar spent on lobbying during the five years prior to the TARP bailout, firms received between $485.77 and $585.65 in TARP support.

Number of Pages in PDF File: 33

Keywords: Lobbying, Corporate Bailouts, Government Policy, Regulation of Financial Institutions

JEL Classification: D72, D73, G28

working papers series





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Date posted: July 5, 2011 ; Last revised: October 1, 2011

Suggested Citation

Blau, Benjamin M. and Brough, Tyler and Thomas, Diana Weinert, Corporate Lobbying, Political Connections, and the 2008 Troubled Asset Relief Program (September 30, 2011). Available at SSRN: http://ssrn.com/abstract=1878653 or http://dx.doi.org/10.2139/ssrn.1878653

Contact Information

Benjamin M. Blau (Contact Author)
Utah State University - Huntsman School of Business ( email )
3500 Old Main Hill
Logan, UT 84322
United States
Tyler Brough
Utah State University ( email )
Logan, UT 84322
United States
Diana Weinert Thomas
Creighton University ( email )
2500 California Plaza
Omaha, NE 68178
United States
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