Women are still underrepresented as public-sector organizational leaders, despite comprising half of the United States public-sector workforce. To explore the factors driving gender imbalance, this Element employs a problem-driven approach to examine gender imbalance in local government...

We show that active equity funds deliberately alter their factor loadings rather than maintaining a constant style. Changes are larger following quarters in which funds either under- or out-perform other funds based on returns or fund flows. Motivated by this observation, we identify a new...