Activism

Mutual funds own approximately 30 percent of the U.S.

This paper studies managerial reaction to shareholder empowerment that strengthens shareholder voting, a form of direct democracy.

Index funds and indexed ETFs managed by the “Big Three” – BlackRock, Vanguard and State Street – have grown to be the largest investors i

Corporate ownership around the world rests largely in the hands of institutional intermediaries.  Even in U.S., once a bastion of re

Short sellers have been cast as villains throughout history.

Climate risks have potentially large effects on investors’ portfolio companies.

One of the fundamental issues in modern corporate finance is the problem of separation of firm ownership from control.