title: Lobbying expenditures as an indicator of the performance of companies in the US pharmaceutical market
metadata.name: dc.contributor.author
metadata.value: Shalev, Lev S.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Freixanet, Joan
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2023-05-18T11:29:43Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2023-05-18T11:29:43Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2023-03
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Shalev L. S., Freixanet J. 2023. Lobbying expenditures as an indicator of the performance of companies in the US pharmaceutical market. Vestnik of Saint Petersburg University. Management 22 (1): 61–83. https://doi.org/10.21638/11701/spbu08.2023.104
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: https://doi.org/10.21638/11701/spbu08.2023.104
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/41472
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: In the corporate political activity literature, abundant research has examined the lobbying activity
  in the United States and its relationship with firms’ financial performance. Lobbying in the
  US emerged at the same time as the state itself, and the democratic system of government contributed
  to its rapid development. However, there have been few studies of firms headquartered
  outside the United States and that examine how nationality affects their lobbying activity. This
  paper relies on institutional theory to argue that high lobbying expenditures by multinational
  corporations would increase its annual revenue. It also argues that this effect is moderated by
  the nationality of the firm and its size. The formulated hypotheses were tested using a sample
  of 51 pharmaceutical companies spanning the fifteen-year period 2005–2020 and representing
  12 countries. As moderators, two measurements of the size of the company were used: total assets
  and the number of employees. The obtained findings support the hypothesis on the relationship
  between lobbying expenditure and annual revenue, as described above. However, the findings
  do not support the arguments about a moderating effect of size on this relationship. The study is
  limited to the one specific sector. However, due to the universality of measurement, further comparative
  studies between sectors in different countries are possible. The study results enhance the
  understanding of the factors that determine corporate political activity and provide insights for
  further development of the topic and the extension of knowledge. This study holds important
  implications for firms’ personnel policy, lobbying strategy optimisation and business location
  management.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: en
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: Vestnik of St Petersburg University. Management;Volume 22; Issue 1
metadata.lang: -
metadata.name: dc.subject
metadata.value: lobbying
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: financial performance
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: political risk
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: corporate political activity
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: firm size
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: Lobbying expenditures as an indicator of the performance of companies in the US pharmaceutical market
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 935.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/41472/1/935.pdf
resources.format: Adobe PDF
resources.size: 2,12 MB