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Limousine Liberals and Corporate Conservatives: The Financial Constituencies of the Democratic and Republican Parties

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  • Peter L. Francia
  • John C. Green
  • Paul S. Herrnson
  • Lynda W. Powell
  • Clyde Wilcox

Abstract

Objective. This study examines the backgrounds, political attitudes, issue preferences, and political participation of congressional donors who contribute $200 or more to congressional campaigns. Methods. We use a nationwide survey of more than 1,000 donors and analyze differences among these individuals using cluster analysis. Results. Although these significant donors are economic elites, we find they are not monolithic in their political views and attitudes. There are significant cleavages in the donor pool across and within the two major parties on various political issues and involvement in different political organizations. Perhaps most important, we find that the most active donors hold the most ideologically extreme political views. Conclusions. The results suggest that the sharp cross‐party differences and the meaningful variations within party coalitions, combined with the greater activity of more ideologically extreme donors, contribute to and reflect party polarization.

Suggested Citation

  • Peter L. Francia & John C. Green & Paul S. Herrnson & Lynda W. Powell & Clyde Wilcox, 2005. "Limousine Liberals and Corporate Conservatives: The Financial Constituencies of the Democratic and Republican Parties," Social Science Quarterly, Southwestern Social Science Association, vol. 86(4), pages 761-778, December.
    • Handle: RePEc:bla:socsci:v:86:y:2005:i:4:p:761-778
    DOI: 10.1111/j.0038-4941.2005.00354.x
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    Cited by:

    1. Shadiya M. BAQUTAYAN & Akbariah M. MAHDZIR, 2017. "The psychology theories of waqf-giving behaviors," Journal of Economic and Social Thought, KSP Journals, vol. 4(4), pages 424-432, December.
    2. McMurray, Joseph, 2017. "Voting as communicating: Mandates, multiple candidates, and the signaling voter's curse," Games and Economic Behavior, Elsevier, vol. 102(C), pages 199-223.
    3. Michael Ensley, 2009. "Individual campaign contributions and candidate ideology," Public Choice, Springer, vol. 138(1), pages 221-238, January.
    4. Dewan, Yasir, 2019. "Corporate crime and punishment : The role of status and ideology," Other publications TiSEM 08d87b94-7449-4a1f-a3ae-0, Tilburg University, School of Economics and Management.
    5. Alnahedh, Saad & Alhashel, Bader, 2024. "Firm executive political leanings, Washington, and stock market returns," International Review of Economics & Finance, Elsevier, vol. 91(C), pages 476-491.
    6. Alhashel, Bader S., 2020. "Hail to the chief: The effect of political alignment with the presidency on corporate investment," Research in International Business and Finance, Elsevier, vol. 54(C).
    7. Cameron J. Borgholthaus & Joshua V. White & Erik Markin & Vishal K. Gupta, 2023. "Venture creation in the aftermath of COVID-19: The impact of US governor party affiliation and discretion," Small Business Economics, Springer, vol. 61(2), pages 655-674, August.
    8. Timothy Lambie-Hanson, 2013. "Campaign contributions as valence," Public Choice, Springer, vol. 157(1), pages 3-24, October.
    9. M. K. Chin & Matthew Semadeni, 2017. "CEO political ideologies and pay egalitarianism within top management teams," Strategic Management Journal, Wiley Blackwell, vol. 38(8), pages 1608-1625, August.
    10. M. Paula Fitzgerald & Cait Poynor Lamberton & Michael F. Walsh, 2016. "Will I Pay for Your Pleasure? Consumers’ Perceptions of Negative Externalities and Responses to Pigovian Taxes," Journal of the Association for Consumer Research, University of Chicago Press, vol. 1(3), pages 355-377.
    11. Oc, Burak & Netchaeva, Ekaterina & Kouchaki, Maryam, 2021. "It’s a man’s world! the role of political ideology in the early stages of leader recruitment," Organizational Behavior and Human Decision Processes, Elsevier, vol. 162(C), pages 24-41.
    12. Saad Alnahedh & Bader Alhashel, 2021. "Political ideology in M&A," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 48(9-10), pages 1711-1746, October.

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