The competing merits of plurality and proportional representation have intrigued political economists and political scientists for quite some time. Of primary interest is whether one or the other system is better in serving the interests of the electorate. Since theoreticians are unable to...

Theory tells us that managerial ownership of shares in a firm generates two conflicting effects on management behaviour, i.e. the convergence effect whereby increased managerial ownership can improve corporate performance, and the entrenchment effect which counters it. A number of studies have...