We study investor activism promoting environmental, social and governance (ESG) improvements by means of a proprietary dataset covering 660...Read more
The growing influence of activists in today’s corporate landscape has prompted financial economists to investigate the drivers of shareholder...Read more
Firms with strong corporate governance are often likened to democracies. Through their proposals and votes, shareholders can determine the broad...Read more
Corporate ownership around the world rests largely in the hands of institutional intermediaries. Even in U.S., once a bastion of retail investors...Read more
Proxy reforms shifting more power to shareholders can mitigate managerial agency problems but also empowers “special interest” activists. Labor...Read more
Hedge funds have become active in corporate governance. They push for changes in strategy and the adoption of specific business plans. Their...Read more
Blockchain is currently still largely focused on speculation with virtual currencies like bitcoins. However, it can also offer smart solutions for...Read more
The intense and sustained presence of hedge fund activists in many industries and markets makes it likely that activism produces effects beyond...Read more
Mutual funds own approximately 30 percent of the U.S. equity market, and the Big Three fund families – Blackrock, Vanguard, and State Street – are...Read more
Climate risks have potentially large effects on investors’ portfolio companies. Some companies face direct costs related to changes in the climate...Read more
Prof. John Coffee (Columbia Law School) presents his paper on "Activist Directors and Agency Costs: What happens When an Activist Director Goes on the Board?" at the "Corporate Governance And Ownership With Diverse Shareholders" conference at IESE Business School, Barcelona. The full paper and slides from this presentation can be downloaded here: ecgi.global/content/corporate-governance-and-ownership-diverse-shareholders#!event-programme