Papers & Opinions


Paper


Posted on 10 July 2024

We study the interplay between a "one person-one vote" political system and "one share-one vote" corporate governance regime. The political system sets Pigouvian subsidies, while corporate governance determines firm-specific public...

Paper


Posted on 22 October 2021

We study firm governance when shareholders strategically vote and buy/sell shares. We find that voting for the better policy maximizes portfolio value only when pivotal; otherwise, it is better to...