Series:
Finance
Investor Ideology
Real name:
Howard Rosenthal
Related Working Paper
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Institutional Debt Holdings and Governance
Using data on the universe of US-based mutual funds, we find that two out of five fund families hold corporate bonds of firms in which they also own an equity stake. We show that the greater the fraction of debt a fund family holds in a given...Read more
Opt-In Stewardship: Toward an Optimal Delegation of Mutual Fund Voting Authority
This article offers a theory of mutual fund voting to answer when mutual funds should vote on behalf of their investors and when they should not. It argues that voting authority for mutual funds ought to depend upon: (1) whether the fund...Read more
The Private Use of Credit Ratings: Evidence from Investment MandatesAbstract. Investment mandates determine how more than $7tn of fixed income assets are managed by mutual funds in the US. Using textual analysis, we measure the use of credit ratings in fi
Investment mandates determine how more than $7tn of fixed income assets are managed by mutual funds in the US. Using textual analysis, we measure the use of credit ratings in fixed income mutual fund investment mandates. The use of ratings to...Read more
Citizens United v. FEC and Corporate Political Activism
This paper analyzes the effect that the U.S. Supreme Court’s landmark decision on Citizens United vs. FEC had on corporate political activism. The decision opened the door for corporate treasuries to engage in independent political...Read more