论证券投资基金所持股份之表决权的行使

证券投资基金所持股份之表决权理应由基金管理人代表基金份额持有人自由行使,但由于证券投资基金持股数额一般较大,且该表决权的行使具有权义复合性和双重共益性,故基金管理人在行使基金持股之表决权时应尽忠实、勤勉义务。建议我国立法对基金持股之表决权进行一定的规制,以维护基金份额持有人的利益,并更好地发挥基金作为机构投资者在股份公司治理中的作用。     

美国“一股一权”制度的兴衰及其启示

股东控制是美国公司法的基础,而"一股一权"则是该基础的核心。纽约证券交易所在20世纪初迫于政治压力,在上市公司标准中确立了一股一权原则。但在1980年代,纽约证券交易所因美国证券交易所和纳斯达克交易所的竞争压力,放弃了这一上市标准,引起了美国学者对该原则的广泛争议。一股一权原则的合理性尽管经过了学者的多次论证,但大部分国家公司法并没有将这一原则贯彻到底。实证研究表明,股权结构与公司业绩并不存在确定的关系。允许公司按实际情况设计股权结构,可能更有利于公司长远发展,但其前提是健全公司治理制度和投资者保护制度。     

The consequences of political disagreement in interpersonal communication: New insights from a comparative perspective

Political disagreement in interpersonal communication increases attitudinal ambivalence and can depress voter turnout. These effects seem to be driven by a wish to avoid social controversy rather than informational gains from encountering other opinions. This article shows that political disagreement in interpersonal communication increases the difficulty of deciding for which party to vote. Moreover, this effect is a result of social disapproval of one's party preference, while political expertise in interpersonal communication has no effect. For voter turnout, no direct effect of social disapproval of one's party preference is found. However, disapproval has an indirect influence on turnout via difficulty of vote choice. In sum, both political attitudes and political behaviour are affected by social pressures. Students of political attitudes and behaviour should try to include interpersonal discussion in their models in greater detail than is common practice today.     

The hidden electoral connection: analysing parliamentary questions in the Chilean Congress

Legislators in presidential countries use a variety of mechanisms to advance their electoral careers and connect with relevant constituents. The most frequently studied activities are bill initiation, co-sponsoring, and legislative speeches. In this paper, the authors examine legislators’ information requests (i.e. parliamentary questions) to the government, which have been studied in some parliamentary countries but remain largely unscrutinised in presidential countries. The authors focus on the case of Chile – where strong and cohesive national parties coexist with electoral incentives that emphasise the personal vote – to examine the links between party responsiveness and legislators’ efforts to connect with their electoral constituencies. Making use of a new database of parliamentary questions and a comprehensive sample of geographical references, the authors examine how legislators use this mechanism to forge connections with voters, and find that targeted activities tend to increase as a function of electoral insecurity and progressive ambition.     

透过新闻看我国选举制度的理论与实践

选举权之权态不仅仅是"投票选举"(此仅为投票权),还包括投票必需之知情、获得允诺等权态,以及作为保障与救济之需的对选任对象的任职考核、罢免等权态;被选举权之权态也不仅仅是"被选举为"(此仅为当选权),尚包括作为当选前提之参选、竞选、候选等权态,以及当选之后的任职、辞职等权态。选举活动被当成组织的人事安排活动,存在极大的道德风险,同时也使国家面临政治民主虚化的风险。     

Measuring Party Identification: Britain, Canada, and the United States

The article proposes an empirically based reflection on how to measure party identification cross nationally, using data from the 1997 Canadian Election Study, the 1997 British Election Study, and the 1996 American National Election Study. These studies included both traditional national questions and a new common one, which allows for an assessment of the effects of question wording on the distribution and correlates of party identification. We show that the distribution of party identification is strongly affected by question wording and that the relationship between party identification and variables such as party and leader ratings, and voting behavior does not quite conform to theoretical expectations. We point out problems in the wording of party identification questions and propose an alternative formulation.     

The personal vote and voter turnout

The level of electoral turnout is arguably the most widely monitored form of electoral participation. Consequently, electoral systems have often been cited as having a significant effect on turnout levels even though scholars do not agree on the effects of these complex institutions. Since most previous studies have relied on categorical or dichotomous electoral system indicators, this study utilizes Carey and Shugart’s personal vote index to gain theoretical leverage on other electoral system components. In short, I find that where electoral competition is predicated on party, rather than candidates’, reputations, turnout levels rise. The results of a time-series cross-sectional analysis reveal that the personal vote index significantly influences turnout levels even when controlling for a host of other factors.     

The incumbency advantage in second-order PR elections: Evidence from the Irish context, 1942–2019

Do candidates in local elections benefit from an incumbency advantage? And which factors moderate the strength of this incumbency bonus? Analyzing seven decades of Irish local elections (1942–2019) conducted under proportional representation through the single transferable vote, we reassess and extend the mixed evidence on the incumbency advantage under proportional representation and in second-order elections. By applying the Regression Discontinuity Design, we find that the incumbency advantage is at least as strong in Irish local as in general elections, which are conducted under the identical electoral system. We also show that marginally elected candidates in local elections have much higher reelection probabilities when they do not face a high-quality candidate in their local electoral area after getting elected. The findings point to the importance of name recognition as a major driver of the incumbency advantage in local elections.     

Consociationalism and Centripetalism: Friends or Foes?

Two schools dominate the literature on democracy in divided societies: consociationalism and centripetalism. The first advocates group representation and power sharing while the second recommends institutions that promote multi‐ethnic parties. Although often presented as mutually exclusive choices, in reality many new democracies display a mix. Drawing on the experiences of Bosnia and Herzegovina, Burundi, Fiji, Lebanon, Malaysia, and Northern Ireland, this article examines the empirical and theoretical relationship between centripetalism and consociationalism. The aim is to explore the conditions under which they reinforce each other (friends) or work at cross‐purposes (foes). A better understanding of the interaction between consociational and centripetal elements in post‐conflict societies not only yields a more nuanced picture of institutional dynamics, but also holds lessons for institutional design.     

When do political parties benefit from incumbents’ personal votes? Comparative analysis across different electoral systems

Do political parties benefit electorally from the personal votes cultivated by their incumbent candidates? How do these benefits vary across electoral systems? This paper offers the first systematic, comparative analysis of parties' electoral gains from fielding incumbent candidates. The paper provides a theoretical argument on how the parties' gains from running incumbents vary across electoral systems and examines it empirically using district-level election data in eleven established democracies. The results suggest that the gains are largest in the multimember district systems that allow voters to determine the intra-party rank of candidates, but these gains decline as district magnitude grows. There are also gains in the single-member district systems, but no gains, or small gains if any, in the multimember district systems that don't allow voters to determine the candidates' rank or allow it only partially. The findings have implications for the cross-system variation in the balance between the collective and individual accountability in democratic elections.