We examine why institutional investors vote the way they vote on director elections, using a novel dataset on voting rationales provided by institutional investors. We find that the most important reasons for opposing directors are board independence, board diversity, tenure, firm governance,...

Many political practitioners believe that voters are more likely to approve propositions listed at the top than the bottom of the ballot, and this belief influences election laws across the country. A large body of research has shown that ballot structure matters for candidate elections,...

This paper uses fundamental principles of public choice, mainly the median voter theorem, to develop a simple theory of redistricting. The focus is on how closely policy outcomes correspond to majority rule. The main results are: (1) Potential policy bias in favor of nonmajority groups is...