Innovation

Working Paper

Are Foreign Investors Locusts? The Long-Term Effects of Foreign Institutional Ownership

This paper challenges the view that foreign investors lead firms to adopt a short-term orientation and forgo long-term investment. Using a comprehensive sample of publicly listed firms in 30 countries over the 2001-2010 period, we find instead...Read more

Miguel Ferreira
Pedro Matos
01 August 2016

Bringing the AGM to the 21st Century: Blockchain and Smart Contracting Tech for Shareholder Involvement

The AGM is often considered to play an important role in direct shareholder monitoring of directors and corporate blockholders. However, its practical functioning suffers from large obstacles.

In this research we outline the AGM’s flaws...Read more

Christoph Van Der Elst
28 June 2017

The Promise and Perils of Crowdfunding: Between Corporate Finance and Consumer Contracts

‘Crowdfunding’ — raising capital through large numbers of small contributions — is a burgeoning phenomenon, spurred by the internet’s capacity to reduce communication costs. Its still-evolving status is reflected in diversity of contracting...Read more

John Armour
Luca Enriques
18 September 2017

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