Transcription of TheValueofWhoYouKnow: RevolvingDoor ...
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TheValueofWhoYouKnow: RevolvingDoor ...
The Value of Who You Know: revolving DoorLobbyists and Congressional Staff ConnectionsJoshua M. McCrain 20, 2017 AbstractBuilding on previous work on lobbying and relationships in Congress, I propose atheory of staff-to-staff connections as a human capital asset for Capitol Hill staff andrevolving door lobbyists. Employing comprehensive lobbying disclosure data matchedto congressional staff employment histories, I find that the connections these lobbyistsmaintain to their former Hill coworkers primarily drive their higher relative value aslobbyists. Specifically, a one standard deviation increase in the number of connectionspredicts $360,000 in additional revenue during a revolving door staffer s first year asa lobbyist. I also find that the indirect connections lobbyists maintain to legislatorsthrough knowing a staffer in a legislative office are of potential greater value than adirect connection to a Senator.
moreforlobbyistswithmorestaff-to-staffconnectionsthantheyareforlobbyistswithfewer suchconnections. In sum, existing work paints a picture of revolving …
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