Superstar CEOS and Corporate Law
Larger-than-life corporate leaders, who can move fast and disrupt entrenched players, are often perceived as having the vision, superior leadership,...
Read moreLarger-than-life corporate leaders, who can move fast and disrupt entrenched players, are often perceived as having the vision, superior leadership,...
Read moreThis article reports a unique analysis of private engagements by an activist fund. It is based on data made available to us by Hermes, the fund manager...
Read moreWe study the link between international stock return comovements and institutional investment. We test whether the rise of institutional ownership...
Read moreWe examine the relation between an institution’s stock ownership and its tendency to support corporate management through the “Say-on-Pay”...
Read moreIndex funds own an increasingly large proportion of American public companies. The stewardship decisions of index fund managers—how they monitor,...
Read moreHow do active managers engage with portfolio firms? And, what role does monitoring and engagement play in their trading decisions? We use proprietary...
Read moreHas corporate law and its bundles of fiduciary obligations become irrelevant? Over the last thirty years, the American public corporation has...
Read moreDuring the COVID-19 crash, U.S. stocks with higher institutional ownership performed worse. This under-performance was unrelated to revisions in...
Read moreWe study coordinated engagements by a prominent international network of long-term shareholders cooperating to influence firms on environmental and...
Read moreThe extraordinary rise of China’s economy has made understanding Chinese corporate governance an issue of global importance. A rich literature has...
Read moreInstitutional investors have limited resources dedicated to engagement activities, yet, in many cases they hold thousands of stocks in their...
Read moreUsing a novel data set, we show that up to one-fifth of America's largest firms had an activist, non-financial blockholder, or insider as their largest...
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