Campaign contributions are typically seen as a strategic investment for firms; recent empirical evidence, however, has shown few connections between firms’ political investments and regulatory or performance improvements, prompting researchers to explore agency-based explanations for corporate...

Campaign contributions are typically seen as a strategic investment for firms; recent empirical evidence, however, has shown few connections between firms’ contributions and regulatory or performance improvements, prompting researchers to explore agency-based explanations for corporate...

Firms may be motivated to add noise to political processes to take advantage of policy complexity and politicians' limited rationality. We refer to this incentive as corporate political obfuscation and show that the degree of observable, equilibrium obfuscation depends on the competitiveness of...