December 5, 2006: An academic study by three economists entitled “Corporate Political Contributions and Stock Returns” and reported in the New York Times indicates that in recent years UPS has donated PAC money to more Congressional candidates than any other corporation. UPS’s corporate PAC gave to 629 Congressional and Senate candidates from October 1999 to October 2004.
The study found that corporate buying of Congressional influence has a positive effect on stock price. It shows a statistical correlation between the number of candidates receiving money from a corporation, and increases in share value. It also indicates that corporations that spread their money around to many Congressional candidates get the most benefit.