Date of Award
12-2018
Degree Type
Report
Degree Name
Master of Science (MS)
Department
Economics and Finance
Committee Chair(s)
Ben Blau
Committee
Ben Blau
Committee
Tyler Brough
Committee
Todd Griffith
Abstract
The Honest Leadership and Open Government Act of 2007 (Pub.L. 110-81, 121 Stat. 735, enacted September 14, 2007) was passed by the U.S. Congress in order “to strengthen public disclosure requirements concerning lobbying activity and funding. It placed more restrictions on gifts for members of Congress and their staff, and provides for mandatory disclosure of earmarks in expenditure bills.” Treating this event as a natural experiment, we examine how this legislation affected the Cumulative Abnormal Returns (CARs) of firms that lobbied in the year(s) leading up to the passing of the legislation. We find that companies that lobbied in the years leading up to the legislation significantly underperformed the market in the days surrounding the passage of the legislation.
Recommended Citation
Stewart, Brenan, "Lobbying Legislation and Cumulative Abnormal Returns" (2018). All Graduate Plan B and other Reports, Spring 1920 to Spring 2023. 1342.
https://digitalcommons.usu.edu/gradreports/1342
Copyright for this work is retained by the student. If you have any questions regarding the inclusion of this work in the Digital Commons, please email us at .