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Corporate political activity and firm performance : the moderating effects of international and product diversification
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Shirodkar, Vikrant, Rajwani, Tazeeb, Stadler, Christian, Hautz, Julia and Mayer, Michael C. J. (2022) Corporate political activity and firm performance : the moderating effects of international and product diversification. Journal of International Management, 28 (4). 100941. doi:10.1016/j.intman.2022.100941
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Official URL: http://dx.doi.org/10.1016/j.intman.2022.100941
Abstract
Prior research has found that corporate political activity (CPA) can both positively and negatively impact firm performance. Combining agency theory with the resource-based view, we examine the relationship between domestic lobbying (a key form of CPA) and firm performance by explicating the moderating effects of international and product diversification. We argue that expansion into international and product markets increases a firm's resources and reduces agency costs in domestic lobbying. Our results, based on a sample of 737 firms, show that lobbying is positively associated with performance for firms that are diversified in both international markets and along product-lines; whereas lobbying is counter-productive for purely domestic and undiversified firms. Our results contribute to the literature on the firm performance implications of corporate political activity by highlighting the roles of international and product diversification.
| Item Type: | Journal Article | ||||||||
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| Subjects: | H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HF Commerce H Social Sciences > HG Finance J Political Science > JF Political institutions (General) |
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| Divisions: | Faculty of Social Sciences > Warwick Business School > Strategy & International Business Faculty of Social Sciences > Warwick Business School |
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| Library of Congress Subject Headings (LCSH): | Lobbying , Corporations -- Political activity, International trade, Business and politics, International business enterprises , Diversification in industry , Investments, Foreign | ||||||||
| Journal or Publication Title: | Journal of International Management | ||||||||
| Publisher: | Elsevier Inc. | ||||||||
| ISSN: | 1075-4253 | ||||||||
| Official Date: | 15 December 2022 | ||||||||
| Dates: |
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| Volume: | 28 | ||||||||
| Number: | 4 | ||||||||
| Article Number: | 100941 | ||||||||
| DOI: | 10.1016/j.intman.2022.100941 | ||||||||
| Status: | Peer Reviewed | ||||||||
| Publication Status: | Published | ||||||||
| Access rights to Published version: | Restricted or Subscription Access |
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