Beyond Lobbying Expenditures: How Lobbying Breadth and Political Connectedness Affect Firm Outcomes

The extant lobbying literature largely focuses on the effects of firm aggregate lobbying expenditures, suggesting that more lobbying expenditures fuel positive firm benefits. We argue the focus on aggregate expenditures overlooks how expenditures are targeted and the influence of those targeting the expenditures; as such, exploring such factors will both add insight to our understanding of the theoretical mechanisms underlying lobbying and...