Gerald D. Keim

Corporate Political Activity: A Review and Research Agenda

Corporate political activities, or corporate attempts to shape government policy in ways favorable to the firm, are commonly employed by firms across countries. We review recent scholarly work from management, political science, economics and sociology in the area of corporate political activity (CPA), paying particular attention to the literature published since Shaffer’s [Shaffer, B. 1995. Firm-level responses to government regulation: Theoretical and research approaches. Journal of Management, 21: 495–514] review. To integrate this literature we provide a model of the antecedents of CPA, the different types of CPA, how firms organize to implement CPA and the outcomes of CPA both for public policy and firm performance. We conclude our review by proposing an agenda for future research in the area.

Corporate Contributions: Altruistic or For-Profit?

Existing literature has focused on three rationales for corporate philanthropy: through-the-firm giving, corporate statesmanship, and profit motivated giving. The profit motivation argument was exa...

Determinants of PAC Participation Among Large Corporations

Political scientists and other researchers have begun to focus increasingly on the role of interest groups in American politics. In particular, they have devoted increasing attention to the political representation of institutional interests. Several studies have been published that examine various aspects of business political action committees. However, there has been a tendency to treat business PACs as pervasive or homogenous, despite the fact that most businesses do not have a PAC. This study has attempted to address this deficiency by examining the determinants of PAC participation among Fortune-ranked firms in the 1981-1982 election period. Using an exploratory expected benefits-costs framework, the study empirically tests hypotheses on the effect of organizational and contextual factors on the probability of a corporation having an active PAC. The results support several hypotheses and suggest that the expected benefits and costs of PAC activity affect a corporations decision to form a PAC.

Board Composition and Stakeholder Performance: Do Stakeholder Directors Make a Difference?

In this article, we examine the link between board composition and an enterprise strategy outcome, stakeholder relations. Because a firm’s enterprise strategy is set at the highest level of the organization, we expect the presence of stakeholder directors (suppliers, customers, employees, and community representatives) to be positively associated with stakeholder performance.Results from an analysis of 3,268 board members representing 250 firms are discussed in the context of both corporate governance and stakeholder management literatures.

Managerial Behavior and the Social Responsibility Debate: Goals Versus Constraints

This paper examines the “popular” view of the social responsibility of business as advanced by George Steiner, Keith Davis and others and the “traditional” position so frequently associated with ec...

An Empirical Evaluation of the Potential for Including Shareholders in Corporate Constituency Programs

The purpose of this research was to extend the literature related to the effectiveness of corporate political strategies. The research examined the attitudes of 2,151 shareholders from six major co...

The economic rationale for the nature and extent of corporate financial disclosure regulation: A critical assessment

Abstract The regulatory framework for corporate financial disclosure has been the subject of a large literature, most of which has focused on the economic rationale for disclosure requirements. This extant economic analysis has not led to any definitive conclusions regarding the necessity for disclosure regulation nor has it provided public policy guidance as to the nature and extent of required corporate financial disclosure. It is evident that broader-based analysis and research incorporating relevant social and political (as well as economic) factors is necessary to gauge appropriate public policy for financial information disclosure.

Corporate Giving: A Form of Advertising?

After reviewing various rationales for corporate giving which have been developed in the literature we find the relation of giving and advertising one of the more interesting. Our testing suggests that contributions are partially motivated by profit consideration. In particular, considerations which influence advertising expenditures appear to influence corporate giving.