The market can influence how people who own shares vote in U.S. presidential elections, a new study by Rice University and University of Pittsburgh examining the electoral implications of stock fluctuations finds.
The big picture: The study compares electoral preferences with levels of dividend income. It finds the effect of recent stock returns on votes for the incumbent party is stronger in counties with greater market participation. And it suggests that if the market had rebounded instead of falling in 2008, Republican presidential candidate John McCain may have won the states of Florida, Indiana, North Carolina, and Ohio.