Political donations and cash balances (2006–2022, n = 3,404)
| Expected | (1) | (2) | |
|---|---|---|---|
| Variables | Direction | CA_BA | CA_BA |
| LDON | ? | −0.001** (−2.15) | |
| DOND | ? | −0.012** (−2.25) | |
| DUAL | ? | 0.021* (1.69) | 0.021* (1.70) |
| BIGN | ? | −0.057*** (−5.30) | −0.057*** (−5.30) |
| BOD | ? | −0.006*** (−5.60) | −0.006*** (−5.60) |
| DIVD | − | −0.070*** (−8.98) | −0.070*** (−8.98) |
| MTB | + | −0.000 (−0.49) | −0.000 (−0.49) |
| FEMALE | ? | −0.037 (−1.27) | −0.037 (−1.27) |
| BIND | ? | −0.045*** (−2.99) | −0.045*** (−2.99) |
| AGE | ? | 0.002 (0.60) | 0.002 (0.60) |
| SIZE | + | 0.003 (1.46) | 0.003 (1.46) |
| NDTS | ? | 0.194*** (5.62) | 0.194*** (5.62) |
| LIQIUD | ? | 0.007*** (4.83) | 0.007*** (4.83) |
| RISK | ? | 0.330*** (4.05) | 0.330*** (4.05) |
| CAFLR | − | 0.175*** (4.16) | 0.175*** (4.16) |
| ROA | ? | −0.149*** (−2.83) | −0.149*** (−2.83) |
| Constant | 0.153*** (3.72) | 0.153*** (3.72) | |
| Observations | 3,404 | 3,404 | |
| Adj-R2 | 0.325 | 0.325 | |
| Year | Yes | Yes | |
| Industry | Yes | Yes |
| Expected | (1) | (2) | |
|---|---|---|---|
| Variables | Direction | CA_BA | CA_BA |
| ? | −0.001 | ||
| ? | −0.012 | ||
| ? | 0.021 | 0.021 | |
| ? | −0.057 | −0.057 | |
| ? | −0.006 | −0.006 | |
| − | −0.070 | −0.070 | |
| + | −0.000 (−0.49) | −0.000 (−0.49) | |
| ? | −0.037 (−1.27) | −0.037 (−1.27) | |
| ? | −0.045 | −0.045 | |
| ? | 0.002 (0.60) | 0.002 (0.60) | |
| + | 0.003 (1.46) | 0.003 (1.46) | |
| ? | 0.194 | 0.194 | |
| ? | 0.007 | 0.007 | |
| ? | 0.330 | 0.330 | |
| − | 0.175 | 0.175 | |
| ? | −0.149 | −0.149 | |
| 0.153 | 0.153 | ||
| 3,404 | 3,404 | ||
| 0.325 | 0.325 | ||
| Yes | Yes | ||
| Yes | Yes |
Please refer to Table 2 for operational definitions. Robust t-statistics in parentheses. ***p < 0.01; **p < 0.05; *p < 0.1