Betting on winner: the effect of local elections on corporate political activity outcomes

How can managers successfully access political rents by way of corporate political strategies (CPA)? Existing research has suggested several endogenous factors that correlate with CPA outcomes. I offer a more robust solution to this problem. Drawing on insights from the perspective of CPA as exchanges between firms and political decision-makers, and from the special interest politics of political economy, I develop and test a causal mechanism that links local elections, legislative bargaining and access to political rents at the national level. I conducted a natural experiment using regression discontinuity design and propensity score matching in municipal elections in Brazil to show that firms enjoy superior access to subsidized financing from the state-owned national development bank (BNDES) when they decide to invest in municipalities whose winning mayoral candidate is coalition-aligned with the national ruler. This effect fades away fades away as the level of competition in the local election decreases. The evidence implies that when managers bet on national coalition-aligned winners in close local elections, they positively affect CPA outcomes. I extend the exchange-based typology of corporate political strategies by offering a novel possibility of targeting voters with financial inducements, which I call a private local development strategy. Finally, these results show that firms exchange their project-execution capabilities for superior access to subsidized financing.

Functional and Ultrastructural Analysis of Annexin A1 and Its Receptor in Extravasating Neutrophils during Acute Inflammation

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Preliminary Overview of the Economies of Latin America and the Caribbean 2000

Includes bibliography

Preliminary Overview of the Economies of Latin America and the Caribbean 2001

Includes bibliography

Preliminary Overview of the Economies of Latin America and the Caribbean 2002

Includes bibliography

Preliminary Overview of the Economies of Latin America and the Caribbean 2003

Includes bibliography

Preliminary Overview of the Economies of Latin America and the Caribbean 2004

Includes bibliography

Preliminary Overview of the Economies of Latin America and the Caribbean 2005

Includes bibliography

Availability, collection and use of data on disability in the Caribbean subregion

Includes bibliography

Application of an iterative method and an evolutionary algorithm in fuzzy optimization

This work develops two approaches based on the fuzzy set theory to solve a class of fuzzy mathematical optimization problems with uncertainties in the objective function and in the set of constraints. The first approach is an adaptation of an iterative method that obtains cut levels and later maximizes the membership function of fuzzy decision making using the bound search method. The second one is a metaheuristic approach that adapts a standard genetic algorithm to use fuzzy numbers. Both approaches use a decision criterion called satisfaction level that reaches the best solution in the uncertain environment. Selected examples from the literature are presented to compare and to validate the efficiency of the methods addressed, emphasizing the fuzzy optimization problem in some import-export companies in the south of Spain. © 2012 Brazilian Operations Research Society.

Intraregional migration of skilled manpower

Includes bibliography

The privatization of public water utilities

Includes bibliography

Proposals for the liberalization of trade and investment in the Association of Caribbean States (ACS)

Includes bibliography