Do Corporate PACs Restrict Competition?
研究发现企业政治行动委员会（PAC）的支出与制造业新企业进入数量呈负相关，表明企业通过PAC影响政治以限制竞争，维护在位者利益。
Corporate political action committees (PACs) play a prominent role in the political strategies of U.S. organizations, and the ability of firms to influence political outcomes is highly controversial. To the extent that PACs enable groups of firms to pursue corporate agendas at the expense of the social good, they promote socially suboptimal outcomes. This study examines the impact of corporate PACs on entry restriction in manufacturing industries and finds a negative relationship between corporate PAC spending and the entry of new firms. Results suggest that PACs are used to shape industry structure to the economic benefit of incumbents.