Activism

Working Paper

The Neglected Role of Justification under Uncertainty in Corporate Governance and Finance

The big corporate governance debates nowadays concern the corporation’s time horizons, and the balance of power between shareholders and managers. In response to actual and anticipated pressure from shareholder activists – typically, activist...Read more

Claire A. Hill
Alessio Pacces
12 December 2019

Do Index Funds Monitor?

Passively managed index funds now hold over 25% of U.S. mutual fund and ETF assets. The rise of index investing raises fundamental questions about monitoring and corporate governance. We examine the voice and exit mechanisms and find that...Read more

Davidson Heath
Daniele Macciocchi
Roni Michaely
Matthew C. Ringgenberg
12 December 2019

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