Contributions by investor-owned companies play major roles in financing the campaigns of candidates for elective office in the United States. We look at the presidential level and analyze contributions by companies before an election and their stock market performance following US presidential...

A natural experiment in which customer-owned mutual companies converted to publicly listed firms created a plausibly exogenous shock to the stock market participation status of tens of thousands of people. We find the shock changed the way people vote in the affected areas, with a 10% increase...

We develop a general equilibrium model incorporating households with consumption habits and a government to analyze how policy uncertainty affects household consumption and stock prices. The model implies that the government should avoid policy changes if the policy uncertainty is high or an...