We propose a novel way of measuring the equity portfolio-level environmental and social characteristics of a 13F institution (the “sustainability...
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We study institutional investors’ voice in the Netherlands, focusing on shareholder voting in particular. The Dutch Stewardship Code, developed by...
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We introduce a method that identifies climate change exposure from earnings conference calls of 10,158 firms from 34 countries. The method...
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Recent research shows that a high wage-gap between managers and workers identifies better-performing firms, but the stock market does not seem to price...
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Hedge funds have become critical players in both corporate governance and corporate control. In this article, we document and examine the nature of...
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Boards are crucial to shareholder wealth. Yet, little is known about how shareholder oversight affects director incentives. Using exogenous industry...
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We show that supply side effects arising from the bond holdings of open-end mutual funds affect corporate credit risk. In our model, funds exposed to...
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Potential conficts of interest arise when IPO underwriters allocate IPO shares to their affiliated funds. We hypothesize that such nepotism...
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We analyze the monitoring efforts of a large active asset manager that involve high-level private meetings with portfolio firms that are unobservable...
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We show that investors with more dollar amount allocated to private equity conduct more thorough due diligence and have different investment criteria....
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We show that following shocks that change an industry’s competitive environment, firms with more shortterm institutional investors experience...
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Hedge fund activism is associated with improvements in the governance and performance of targeted firms. In this paper, we show that these positive...
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