Working Paper

Constraining Dominant Shareholders’ Self-Dealing: The Legal Framework in France, Germany, and Italy

All jurisdictions supply corporations with legal tools to prevent or punish asset diversion by those, whether managers or dominant shareholders, who are in control. As previous research has shown, these rules, doctrines and remedies are far from...Read more

Pierre-Henri Conac
Luca Enriques
Martin Gelter
01 October 2007

Institutional Investors and Corporate Governance

We provide a comprehensive overview of the role of institutional investors in corporate governance with three main components. First, we provide a detailed characterization of key aspects of the legal and regulatory setting within which ...Read more

Amil Dasgupta
Vyacheslav Fos
Zacharias Sautner
22 September 2020


Wolf Pack Activism

Activist hedge funds can wield significant influence over target firms despite holding relatively small equity stakes by garnering the support of...Read more

Amil Dasgupta
10 April 2017

The Threat of Intervention

One of the fundamental issues in modern corporate finance is the problem of separation of firm ownership from control. The gap between management...Read more

Vyacheslav Fos
Charles Kahn
27 May 2019