We estimate the value of the revolving door for firm executives and directors joining the cabinets of the Trump I and Biden administrations. By combining intraday stock and prediction market data, we take the degree of anticipation of political appointments into account and we offer estimates...

How do firms employ political connections to deal with their non-market environment? To answer this question, we provide the most comprehensive empirical examination of firms' employment of former public officials -revolvers- to date. Building on a rich literature in management and political...