"Pendular Voting" presents a novel two-stage voting procedure: A randomly chosen citizen group votes on a proposal replacing the status quo. Depending on the outcome, a "counterproposal" ensues, that is closer to/further away from the status quo than the original proposal. All citizens vote...

The aim of this study was to determine whether referendums affect stock price risks and returns, using an event study approach. Daily end period data for the Swiss stock market index, the STOXX European market index, and the Swiss/US exchange rate running from the beginning of 2004 to June 2021,...

"Pendular Voting" presents a novel two-stage voting procedure: A randomly chosen citizen group votes on a proposal replacing the status quo. Depending on the outcome, a "counterproposal" ensues, that is closer to/further away from the status quo than the original proposal. All citizens vote...