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In this paper, we contribute to the literature on institutional determinants of IPO valuation.
The short-selling of exchange-traded funds (ETFs) creates “phantom” ETF shares, trading at ETF market prices, with cash flows rights but no associa
This paper develops a unified theory of blockholder governance and the voting premium.
Can market discipline affect corporate environmental and social (E&S) policies?
This paper studies the long-term consequences of actions induced by vesting equity, a measure of short-term concerns.
This paper provides evidence that the #MeToo movement revised investors’ beliefs about the costs (benefits) of fostering an exclusive (inclusive) c
This paper develops a dynamic contracting (multi-tasking) model of a levered firm.
Global investors often demand independent assessments of firms’ governance mechanisms.