Working Paper

22 October 2019

The Wall Street Stampede: Exit as Governance with Interacting Blockholders

The growth of the asset management industry has made it commonplace for firms to have multiple institutional blockholders. In such firms, the strength of governance via exit depends on how blockholders react to each other's exit....

Dragana Cvijanović | Amil Dasgupta | Konstantinos Zachariadis
06 December 2020

The Big Three and Corporate Carbon Emissions Around the World

This paper examines the role of the “Big Three” (i.e., BlackRock, Vanguard, and State Street Global Advisors) on the reduction of corporate carbon emissions around the world. Using novel data on engagements of the Big Three with...

José Azar | Miguel Duro | Igor Kadach | Gaizka Ormazabal