Study: As Companies Spend More on Politics, They Disclose Less

Let our journalists help you make sense of the noise: Subscribe to the Mother Jones Daily newsletter and get a recap of news that matters.


The rise of dark-money political groups has made it much harder to tell which big companies are throwing money at elections. Often, all we know is what corporations voluntarily disclose—a big reason why transparency is becoming one of the most important aspects of corporate citizenship. With that idea in mind, the Robert Zicklin Center for Corporate Integrity at Baruch College has ranked Fortune 100 companies based on how well they disclose their political activities. The results may surprise you. Highly transparent companies include hard-knuckled lobbying powerhouses such as Pfizer and Goldman Sachs. Highly opaque ones: Corporate do-gooders such as Berkshire Hathaway, Nike, and Google (though the authors hadn’t seen this Google page). 

If you’re wondering what to make of this, the study found some fascinating trends. At the low end of corporate political engagement, companies tend to disclose more as they become more politically active. But as companies go from moderate to heavy involvement in politics, the trend reverses and politically active companies become increasingly opaque. Here’s what this looks like on a graph, where the Baruch Index measures transparency (100=most transparent).

Robert Zicklin Center for Corporate IntegrityRobert Zicklin Center for Corporate Integrity

Okay, the graph isn’t too transparent either. But here’s what I think is going on: Companies that aren’t involved in politics can seem opaque because they have nothing to disclose. Those with moderate political engagement disclose more on average because they want to let shareholders know that they’re fighting for their interests. But those engaged in major political battles know that their heavy spending could tarnish their brands, so they find ways to hide what they’re doing. In other words, political transparency comes with its own cost/benefit curve, which is basically what you see above. 

More MotherJones reporting on Dark Money

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate