dynamics of the voting premiums, a measure of the private benefits of control in a corporation. The results indicate that the … reforms have been successful in reducing the voting premiums EU-wide. Moreover, more intense and broad reform efforts (such as … voting premiums across countries and over time. …

, in the context of voice and voting shares, before international institutions, such as the IMF, are to be justifiable to …

This paper analyses why corruption can persist for long periods in a democracy and inquires whether this can result … from a well-informed rational choice of the citizens. By applying a citizen-candidate model of representative democracy …

institutional change in a context of technological innovation. When decisions are made through majority voting, the vote on … technology choice is used to influence the later vote on the sharing rule. We show how this dynamic voting generates a systematic … leads the firm to an institutional trap whereby majority voting and inefficient technology choice reinforce each other …

behaviour on the economy, it has not (yet) managed to fully develop a positively formulated "economic theory of politics" that …

I study the link between ethnic diversity, democracy, and corruption. In a static model, I show that contrary to … conventional wisdom, corruption might emerge as a negative externality of democracy. This occurs through ethnicity, which appears … technology of extraction operates only at the early stage of democracy. Its impact tends to phase out as democracy matures. In …