Ownership
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The Specter of the Giant Three
The world’s largest three investment managers—BlackRock, Vanguard, and State Street Global Advisors—control a large, and steadily growing
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Why Are Firms with More Managerial Ownership Worth Less?
Many investors and governance experts believe that “skin in the game” of managers, i.e.
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May the Force be With You: Investor Power and Company Valuations
Large investors often have market power in private equity markets, such as in venture capital, growth capital, or private placements.
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Who’s Paying Attention? Measuring Common Ownership and Its Impact on Managerial Incentives
There is a growing sense among academics and practitioners that common ownership—where two firms are at least partially owned by the same
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Industrial Foundations as Long-Term Owners
Concerns about short-termism have been mounting in recent years and have influenced the EU shareholder directive, the US presidential deb
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Overlapping Ownership, R&D Spillovers, and Antitrust Policy
In many industries, overlapping ownership arrangements (OOAs) are prevalent in the form of cross-shareholding agreements among firms or c
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