Working Paper

01 March 2015

The Disappearing Taboo of Multiple Voting Shares: Regulatory Responses to the Migration of Chrysler-Fiat

In 2014, the Italian Government broke an old taboo of Italian corporate law, joining the ranks of many different legal systems that allow the issuance of multiple voting shares (MVSs), including the United States. The importance of the...

Marco Ventoruzzo
03 July 2017

Common Ownership, Competition, and Top Management Incentives

We present a firm-level mechanism through which common ownership can affect product market outcomes consistent with empirical evidence. Our theoretical framework embeds a canonical managerial incentive design problem in a model of...

Miguel Anton | Florian Ederer | Mireia Giné | Martin Schmalz