We investigate the impact of changes in states' anti-takeover legislation on executive compensation.

In this paper, we use states' passage of anti-takeover legislation as a source of such independent variation. Passed in the 1980s, these laws serioulsy limited takeovers of firms incorporated in legislating states. Since many view hostile takeovers as an important disciplining device, these laws...

This paper examines the impact of political competition on block grants from federal to subfederal levels of government. We model the extent and direction of income redistribution as determined proximately by the political agendas of central decisionmakers and, at a deeper level, by the...