The Exhaustion of the Private Financing System in Brazil from the Profile of Campaign Financiers and the Impact on business electoral performance

Abstract

The electoral financing is approached by inserting an unprecedented variable of control: the reiteration of the financiers in time. The objective is to profile the financiers from the interaction between different elections. Three analysis models were adopted comparing the donations made in 2010 and 2014, controlling the results through the multivariate linear regression and logistic regression methods. The model corresponded to the following results: i) The performance of the candidate (s) sponsored by the funder relates to the maintenance of electoral funding in the next cycle. ii) Repeated financiers accumulate expertise, and their sponsors have greater electoral success than newcomers to electoral financing. iii) Financiers of strategic profiles have better electoral performance compared to other profiles. A market focused on a few, reiterated funders was identified, working in articulation between strategic motivations, but also with the presence of funders with long-term ideological motivations.