This essay views The Modern Corporation and Private Property from the perspective of its junior coauthor, Gardiner Means. Means generated the book’s...
We examine whether common business group affiliation affects media reporting on firms and whether firms experience any real effects as a result. We find...
Passively managed index funds now hold over 30% of U.S. equity fund assets; this shift raises fundamental questions about monitoring and governance. We...
This paper develops a theory of the joint allocation of control and cash-flow rights in venture capital deals. When the need for VC advice and support...
In large U.S. corporations, founding families are the only blockholders whose control rights on average exceed their cash flow rights. We analyze how...