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- Title
Corporate PACs and the Stock Market: The Case of the 2004 Presidential Election.
- Authors
Hood, Matthew; Nofsinger, John R.
- Abstract
The article examines Standard & Poor's 500 (S&P) stock index components whose associated political action committees (PAC) appeared partisan through unbalanced donations to Democrats or Republicans in the 2004 presidential election in the U.S. The analysis reveals that the performance of the S&P 500 Index and partisan firms, like Halliburton, signify the substantial impact of an election on the annual returns of the affiliated firms, even though the stock price reaction may occur in a short time frame. The donations made by the PAC of the SAP 500 components for the election cycle in 2004 are cited.
- Subjects
UNITED States; STANDARD &; Poor's 500 Index; POLITICAL action committees; CAMPAIGN funds; UNITED States presidential elections; RATE of return; HALLIBURTON Co.
- Publication
Journal of Wealth Management, 2008, Vol 11, Issue 2, p93
- ISSN
1534-7524
- Publication type
Article
- DOI
10.3905/jwm.11.2.93