PACs as Agencies: Why Corporate PACs Punish Extremist Nominees

• In Event: Campaign Finance in the U.S.

Brief Overview

Corporate PACs punish extremist primary winners by about 85% in 2000-2020, and close-race status does not raise dual giving. I build a donor-constrained agency model; the penalty is within-firm, office-specific, scale-dependent, and post-2000.

Author

• Yuto Ota, University of California, Los Angeles