We study shareholder voting in a model in which trading affects the composition of the shareholder base. Trading and voting are complementary, which...
We study transactions in which sellers fears being underpaid because their outside option is better known to the buyer. We rationalize various observed...
Conventional wisdom is that diversification weakens governance by spreading an investor too thinly. We show that, when an investor owns multiple firms...
Little is known about how different bonus schemes affect traders' propensity to trade and which bonus schemes improve traders' performance. We study...