Ownership
Working Paper
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Evolution of Ownership and Control Around the World: The Changing Face of Capitalism
Evolution of Ownership and Control Around the World: The Changing Face of Capitalism
This chapter documents the evolution of ownership and control of firms around the world over a hundred year period from the beginning of the 20th...Read more
Governance Challenges of Listed StateOwned Enterprises around the World: National Experiences and a Framework for Reform
Governance Challenges of Listed StateOwned Enterprises around the World: National Experiences and a Framework for Reform
Despite predictions of their demise in the aftermath of the collapse of socialist economies in Eastern Europe, state-owned enterprises (SOEs) are...Read more
Party Building or Noisy Signaling? The Contours of Political Conformity in Chinese Corporate Governance
Party Building or Noisy Signaling? The Contours of Political Conformity in Chinese Corporate Governance
In 2015, the Chinese Communist Party embarked on an unprecedented policy: writing itself into the corporate charters of many of the country’s...Read more
The Specter of the Giant Three
The Specter of the Giant Three
The world’s largest three investment managers—BlackRock, Vanguard, and State Street Global Advisors—control a large, and steadily growing,...Read more
May the Force be With You: Investor Power and Company Valuations
May the Force be With You: Investor Power and Company Valuations
Large investors often have market power in private equity markets, such as in venture capital, growth capital, or private placements. The...Read more
Anticompetitive Effects of Common Ownership?
Anticompetitive Effects of Common Ownership?
The 2018 ECGI Annual Member meeting featured a Focus Panel on "...Read more
Who’s Paying Attention? Measuring Common Ownership and Its Impact on Managerial Incentives
Who’s Paying Attention? Measuring Common Ownership and Its Impact on Managerial Incentives
There is a growing sense among academics and practitioners that common ownership—where two firms are at least partially owned by the same investor...Read more
Industrial Foundations as Long-Term Owners
Industrial Foundations as Long-Term Owners
Concerns about short-termism have been mounting in recent years and have influenced the EU shareholder directive, the US presidential debate, and...Read more
Overlapping Ownership, R&D Spillovers, and Antitrust Policy
Overlapping Ownership, R&D Spillovers, and Antitrust Policy
In many industries, overlapping ownership arrangements (OOAs) are prevalent in the form of cross-shareholding agreements among firms or common...Read more
Leviathan Inc. and Corporate Environmental Engagement
Leviathan Inc. and Corporate Environmental Engagement
In a 2010 special report, The Economist called the resurgence of state-owned mega-enterprises, especially those in emerging economies, “Leviathan...Read more
Connected Firms and Investor Myopia
Connected Firms and Investor Myopia
Conglomerates, multinational corporations and business groups are non-exclusive forms of complex firms. Often organized as corporate networks,...Read more