The last twenty years or so have seen a sharp decline in public equity. I present a framework that explains the forces that cause the listing propensity of...
The large American corporation faces ever-rising pressure to pursue a purpose beyond shareholder profit. This rising pressure interacts with changes...
We look at the reaction to hedge fund activism of managers and shareholders in Japanese firms and explore the implications of our findings for agency...
Few doubt that hedge fund activism has radically changed corporate governance in the United States -- for better or for worse. Proponents see activists...
This article is the second chapter of the second edition of "The Anatomy of Corporate Law: A Comparative and Functional Approach," by Reinier Kraakman,...