Institutional Investors

Working Paper

01 August 2016

Are Foreign Investors Locusts? The Long-Term Effects of Foreign Institutional Ownership

This paper challenges the view that foreign investors lead firms to adopt a short-term orientation and forgo long-term investment. Using a comprehensive sample of publicly listed firms in 30 countries over the 2001-2010 period, we...

Jan Bena | Miguel Ferreira | Pedro Matos | Pedro Pires
25 November 2020

Do Responsible Investors Invest Responsibly?

We explore a novel survey on responsible investing by institutional investors around the world and match it to archival data on their equity portfolio holdings. We document that institutions that publicly commit to responsible...

Rajna Gibson Brandon | Simon Glossner | Philipp Krueger | Pedro Matos | Tom Steffen
01 September 2006

Hedge Fund Activism, Corporate Governance, and Firm Performance

Using a large hand-collected dataset from 2001 to 2006, we find that activist hedge funds in the U.S. propose strategic, operational, and financial remedies and attain success or partial success in two thirds of the cases. Hedge funds...

Alon Brav | Wei Jiang | Frank Partnoy | Randall Thomas
01 January 2014

Institutional Investor Activism in a Context of Concentrated Ownership and High Private Benefits of Control: the Case of Italy

This is a draft chapter for a forthcoming volume, The Research Handbook on Shareholder Power, edited by Randall Thomas and Jennifer Hill (Cheltenham:Edgar Elgar). This chapter describes the experience with activist institutional...

Massimo Belcredi | Luca Enriques