Common Ownership

Working Paper

11 September 2018

Who’s Paying Attention? Measuring Common Ownership and Its Impact on Managerial Incentives

We derive a measure that captures the extent to which common ownership shifts managers’ incentives to internalize externalities. A key feature of the measure is that it allows for the possibility that not all investors are attentive...

Erik P. Gilje | Todd Gormley | Doron Levit
03 July 2017

Common Ownership, Competition, and Top Management Incentives

This paper presents a mechanism based on managerial compensation through which common ownership can affect product market outcomes. We embed a canonical managerial incentive design problem in a model of strategic product market...

Miguel Anton | Florian Ederer | Mireia Giné | Martin Schmalz