Yes:
A hard-fought campaign is over and President Obama has been reelected. Should shareholders take notice? In brief, yes. In the paper, Corporate campaign contributions and abnormal stock returns after presidential elections, forthcoming in Public Choice, we explore the stock market performance of top corporate contributors after the elections that brought Bill Clinton and George W. Bush, respectively, to power. In both cases, the top contributors strongly outperformed the market. ...
An investor selecting a portfolio according to the percentage of contributions given to the winner in a presidential election would have earned significant abnormal returns of up to 6.6% per year during the first year after an election. Investing in a portfolio formed according to a company’s total contribution would have yielded abnormal annual returns of up to 15.5% for the same observation period.
Which tells me that the people bitching and moaning about corporate political contributions don't really have shareholder intersts at heart .. but rather the interests of the Democratic Party's anti-business left.
