The aim of the article is to analyse the functions that dividends perform in contractual relationships between public companies’ executives and shareholders. The author analyses the income function of dividend, but also considers its sociological aspects. Talcott Parsons' social system theory is the main point of reference, especially, the concept of contract institution. The article justifies the thesis on the relevance of dividends in shaping the equilibrium of power, information policy and the composition of shareholders in a joint-stock company. Dividend policy has a great regulatory potential, which is important in the face of various crises occurring in contemporary capitalism.

Is legislative power flowing to the executive branch over time? Beginning in the 1990s, comparativists began to investigate delegation to the executive under different executive formats. Hypothesized causes include collective action problems due to legislative fractionalization, the presence of a dominant pro-executive faction, preference congruence vis-à-vis the head of government, and challenges posed by economic crises. We test these four hypotheses on a data set containing 2,020 country-year observations of democracies and semi-democracies between 1976 and 2014. Using V-Dem data, we derive annualized measures of shifts in executive–legislative relationships. Contrary to stereotypes of executive dominance, relative gains by legislatures are no less frequent than gains by executives, and economic crises do not advantage political executives in consistent ways. Surprisingly, some of the factors expected to benefit executives seem to enhance assembly authority as well. Robust democracy maintains interbranch power relations in equilibrium, while lower levels of polyarchy are associated with greater ‘noise’ in the relationship.

Ministerial portfolios that promise high status, broad public visibility, and extensive financial and personnel resources continue to be men's domains. In this article, we shed light on gender inequality in ministerial selection processes by studying the duration from a minister's original appointment as a member of cabinet until he or she receives responsibility for a highly prestigious portfolio. We argue that the time it takes for ambitious politicians to prove themselves suitable for this type of cabinet position depends on their sex and the degree to which the policy area for which they are responsible reinforces stereotypical expectations about their personality traits. Empirical evidence from event history analysis of original data including detailed information on all ministerial careers in 27 European countries between 1990 to 2018 supports these propositions. These findings reveal that even highly qualified women politicians who are already members of the executive face additional barriers during their political careers.

This article assesses the impact that direct election of regional presidents has had on party politics in Italy. It finds regional presidents exert a growing personalisation of power within parties at sub-national levels, primarily through their capacity for political nomination and de facto status as party negotiators in the governing coalition. While presidents may shape structures of regional party competition, they remain constrained by coalitional politics and can struggle to assert their authority against powerful governing partners or local powerbrokers rooted in the legislature. They also possess few mechanisms to consolidate their position at national level, consistent with a broader tendency towards ‘stratarchy’ in multi-level parties. Although the distinction between densely and loosely structured parties remains relevant, a common trend towards ‘cartelisation’ at sub-national levels is noted as political parties prioritise the control of state resources and the governing legitimacy this entails. This article contributes to our broader understanding of the multi-level dynamics of party politics in Europe, as well as the unintended consequences of experimenting with an untested hybrid model of ‘directly elected Prime Minister’ in the Italian regions.

Public agency executive jobs are temporary matches of individual bureaucrats with government employers. Together, the buyers and sellers of executive labour form jobs in ways that define critical links in the policy process: the relationships between agency administrators and their elected officials. This article argues that when the executive is hired from outside, the job typically carries a mandate for significantly greater engagement with elected officials than when the executive is promoted from within an agency. Analysis of three very different types of agencies demonstrates that individuals who were hired from outside interact with their elected officials more frequently than do those who were promoted from within. These results shed new light on bureaucratic executives’ roles in the policy process, their relationships with the governments that they serve, and the theoretical significance of bureaucratic jobs as units of analysis in public policy studies.

While there is much research on the developmental trajectories of post-Communist state institutions and the external and domestic influences that have shaped their paths, much less is known about institutional performance, that is, the manner in which institutions operate and the extent to which they produce predictable patterns of effects. Academic analysis has been reluctant to shift attention from institutionalisation to effects, not least because of the fluidity of many formal institutions. The present article documents that over the last decade state institutions in East Central Europe have increasingly stabilized, especially at the macro-institutional level. The analysis highlights insights from institutional theory – notably how degrees, time, preferences and resources matter – to encourage further research in the field.