the most suffered the biggest loss in confidence in institutions, particularly in trust in government and the financial …We document that trust in public institutions--and particularly trust in banks, business and government--has declined … over recent years. U.S. time series evidence suggests that this partly reflects the pro-cyclical nature of trust in …

outsiders with a portfolio heavily invested in the same asset class as the firm (such as venture capitalists or private equity …

manipulation, and investors' uncertainty about it, affects the equilibrium pay contract and the informational efficiency of asset …

We study the relationship between liquid asset holding and the pattern of share ownership and control structures within … institutions of control oriented finance. The data include information on ownership concentration, voting alliances, managerial … pyramids, voting alliances, and participation in family groups. We find that the level of liquid asset holding is positively …

how deregulation affects corporate structure. In the benchmark case where the government maximizes privatization proceeds …