Does Diversification of Share Classes Increase Firm Value?
In the absence of agency conflict and market frictions, it is beneficial to allow greater freedom to firms in their choice of corporate f
In the absence of agency conflict and market frictions, it is beneficial to allow greater freedom to firms in their choice of corporate f
The intense and sustained presence of hedge fund activists in many industries and markets makes it likely that activism produces effects
Many investors and governance experts believe that “skin in the game” of managers, i.e.
In appraisal cases, shareholders have the right to have a judge determine the “fair value” of their shares. These cases bring econo
Large investors often have market power in private equity markets, such as in venture capital, growth capital, or private placements.
Stock-market-driven short-termism is crippling the American economy, according to legal, judicial, and media analyses.
Most investors have a single goal: to earn the highest financial return. These socially-neutral investors maximize their risk-adjus