Traditionally, fund managers cast votes on behalf of investors whose capital they manage. Recently, this system has … come under intense debate given the growing concentration of voting power among a few asset managers and disagreements over … environmental and social issues. Major fund managers now offer their investors a choice: delegate their votes to the fund or cast …

We study relational contracts among managers using unique data that tracks transfers of workers across teams in Indian … ready-made garment factories. We focus on how relational contracts help managers cope with worker absenteeism shocks, which … these facts imply gains from sharing workers. We show that managers respond to shocks by lending and borrowing workers in a …

Large-scale increases in discrimination can lead to dismissals of highly qualified managers. We investigate how … expulsions of senior Jewish managers, due to rising discrimination in Nazi Germany, affected large corporations. Firms that lost … Jewish managers experienced persistent reductions in stock prices, dividends, and returns on assets. Aggregate market value …