IDEAS home Printed from https://ideas.repec.org/a/kap/pubcho/v46y1985i3p289-304.html
   My bibliography  Save this article

The effectiveness of savings and loan political action committees

Author

Listed:
  • Linda Johnson

Abstract

In recent years, political action committees (PACs) have played an increasingly important role, both in contributing to candidates and in influencing voting patterns. Savings and loan PACs are numerous throughout the country and consist of PACs affiliated with individual institutions and trade associations. The question which is addressed in this research paper is the effectiveness which savings and loan related PACs have had on influencing voting patterns. Because of savings and loan allegiance to the real estate industry, voting patterns on a selected set of nine cogressional bills pertaining to various facets of real estate are used to test PAC effectiveness. These bills were voted on by the House of Representatives during the 1978–80 congressional term. A twenty-one simultaneous equation model which employs probit transformations, maximum likelihood estimation procedures, and two stage least squares, is built to test relationships among the endogenous variables of congressional votes, electoral margin, PAC contributions, and constituent and congressional ideology. In addition to testing the effectiveness of savings and loan PAC contributions, the results of the study shed light on savings and loan PAC performance relative to that of real estate PACs, labor PACs, home builder PACs, business PACs, and other PAC groupings. The model is also used to identify some determinants of PAC contribution patterns. As a related issue, the role of ideology as a predictor of voting patterns is re-examined. Findings indicate that savings and loan PACs have only been marginally successful in influencing real estate voting patterns when compared to the other PAC groups. Results also indicate that few variables could be identified as determinants of savings and loan contributions, whereas other more established PACs had determinants which were consistently significant. Overall, findings imply that PAC contribution procedures of the savings and loan industry could benefit by imitating or purchasing the expertise of more experienced PAC groups. Copyright Martinus Nijhoff Publishers 1985

Suggested Citation

  • Linda Johnson, 1985. "The effectiveness of savings and loan political action committees," Public Choice, Springer, vol. 46(3), pages 289-304, January.
    • Handle: RePEc:kap:pubcho:v:46:y:1985:i:3:p:289-304
    DOI: 10.1007/BF00124426
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/BF00124426
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/BF00124426?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Richard A. Posner, 1974. "Theories of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 5(2), pages 335-358, Autumn.
    2. James B. Kau & Donald Keenan & Paul H. Rubin, 1982. "A General Equilibrium Model of Congressional Voting," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 97(2), pages 271-293.
    3. Kau, James B & Rubin, Paul H, 1978. "Voting on Minimum Wages: A Time-Series Analysis," Journal of Political Economy, University of Chicago Press, vol. 86(2), pages 337-342, April.
    4. Jordan, William A, 1972. "Producer Protection, Prior Market Structure and the Effects of Government Regulation," Journal of Law and Economics, University of Chicago Press, vol. 15(1), pages 151-176, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ansolabehere, Stephen & De Figueiredo, John M. & Snyder, James M., 2003. "Are Campaign Contributions Investment in the Political Marketplace or Individual Consumption? Or "Why Is There So Little Money in Politics?"," Working papers 4272-02, Massachusetts Institute of Technology (MIT), Sloan School of Management.
    2. Palda Filip & Palda Kristian, 1991. "Campaign Spending And Campaign Finance Issues : An Economic View," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 2(2-3), pages 291-314, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Vita, Giuseppe Di, 2021. "Political corruption and legislative complexity: Two sides of same coin?," Structural Change and Economic Dynamics, Elsevier, vol. 57(C), pages 136-147.
    2. Kevin Henrickson & Wesley Wilson, 2013. "Voting, Regulation, and the Railroad Industry: An Analysis of Private and Public Interest Voting Patterns," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 43(1), pages 21-39, August.
    3. Potters, Jan & Sloof, Randolph, 1996. "Interest groups: A survey of empirical models that try to assess their influence," European Journal of Political Economy, Elsevier, vol. 12(3), pages 403-442, November.
    4. Stavins, Robert & Keohane, Nathaniel & Revesz, Richard, 1997. "The Positive Political Economy of Instrument Choice in Environmental Policy," RFF Working Paper Series dp-97-25, Resources for the Future.
    5. Mirucki, Jean, 1980. "Comportement de l'entreprise réglementée: étude de l'hypothèse Averch-Johnson [Behavior of the Regulated Firm: A Study of the Averch-Johnson Hypothesis]," MPRA Paper 27669, University Library of Munich, Germany, revised 1982.
    6. Keith Jakee & Leonie Allen, 1998. "Destructive Competition or Competition Destroyed? Regulatory Theory and the History of Irish Road Transportation Legislation," European Journal of Law and Economics, Springer, vol. 5(1), pages 13-50, January.
    7. J.A. den Hertog, 2010. "Review of economic theories of regulation," Working Papers 10-18, Utrecht School of Economics.
    8. Roland Vaubel, 2008. "The political economy of labor market regulation by the European Union," The Review of International Organizations, Springer, vol. 3(4), pages 435-465, December.
    9. Louis Alessi, 1974. "Aneconomic analysis of government ownership and reculation," Public Choice, Springer, vol. 19(1), pages 1-42, September.
    10. Magnus Söderberg, 2008. "Uncertainty and regulatory outcome in the Swedish electricity distribution sector," European Journal of Law and Economics, Springer, vol. 25(1), pages 79-94, February.
    11. Kwan, Simon H., 2003. "Impact of deposit rate deregulation in Hong Kong on the market value of commercial banks," Journal of Banking & Finance, Elsevier, vol. 27(12), pages 2231-2248, December.
    12. Michael Beenstock, 2010. "Regulatory Failure in the Subprime Crisis," Open Economies Review, Springer, vol. 21(1), pages 147-150, February.
    13. Simshauser, Paul, 2024. "On static vs. dynamic line ratings in renewable energy zones," Energy Economics, Elsevier, vol. 129(C).
    14. Timothy M. Shaughnessy, 2005. "A Preliminary Analysis of Campaign Contributions in Florida's Legislative and Judicial Elections," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 20(Spring 20), pages 43-67.
    15. Ojo, Marianne, 2006. "The Role of External Auditors and International Accounting Bodies in Financial Regulation and Supervision," MPRA Paper 354, University Library of Munich, Germany, revised Jul 2006.
    16. Sophie Harnay, 2023. "Richard A. Posner: From Public Choice Theory to Economic Analysis of Law (1969-1973)," Working Papers AFED 23-02, Association Francaise d'Economie du Droit (AFED).
    17. Mountain, Bruce R., 2019. "Ownership, regulation, and financial disparity: The case of electricity distribution in Australia," Utilities Policy, Elsevier, vol. 60(C), pages 1-1.
    18. Lehr, William & Sicker, Douglas, 2017. "Communications Act 2021," 28th European Regional ITS Conference, Passau 2017 169478, International Telecommunications Society (ITS).
    19. Oren M. Levin-Waldman, 1996. "Exploring the Politics of the Minimum Wage," Economics Working Paper Archive wp_176, Levy Economics Institute.
    20. Rausser, Gordon C. & de Gorter, Harry, 1988. "Endogenizing Policy In Models Of Agricultural Markets," 1988 Annual Meeting, August 1-3, Knoxville, Tennessee 270460, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:pubcho:v:46:y:1985:i:3:p:289-304. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.