• Stock Ownership and Political Behavior: Evidence from Demutualizations 

      Kaustia, Markku; Knüpfer, Samuli; Torstila, Sami (2013-12-12)
      A setting in which customer-owned mutual companies converted to publicly listed firms created a plausibly exogenous shock to salience of stock ownership. We use this shock to identify the effect of stock ownership on ...
    • The Political Economy of Bank Bailouts 

      Behn, Markus; Haselmann, Rainer; Kick, Thomas; Vig, Vikrant (2016-04-14)
      In this paper, we examine how the institutional design affects the outcome of bank bailout decisions. In the German savings bank sector, distress events can be resolved by local politicians or a state-level association. ...