Why are some subnational governments more likely to lobby the national government than others? Extant research in social sciences has widely discussed lobbying dynamics in the private sector. However, governments lobby governments, too. In the United States, lobbying is a popular strategy for...

Using a sample of equity funds in China, we explore for the first time mutual funds that impose discretionary inflow restrictions (gates) on investors. Contrary to managers’ claim, we find no clear evidence that inflow gates protect investor interests. Despite their superior past performance,...