shareholders from the complex, pyramidal, and often obscure corporate structures. First, we show that there are large differences …

GIM Index or the proportion of activist shareholders. Following these special meetings, we find that the next quarter …

with theory of the firm based on conflicts of interests between shareholders and stakeholders, we find that establishments … of firms that experience an increase in ownership by larger and more concentrated institutional shareholders have lower … local labor markets, and for dedicated and activist institutional shareholders. The labor losses are accompanied by higher …

. In some cases shareholders are pushing companies to take actions that may reduce market value. It is hard to understand …

work on shareholders and shareholder activism, directors, executives and their compensation, controlling shareholders …

position to benefit themselves at the expense of minority shareholders -- were endemic to corporations in the late …, however, was to give controlling shareholders the power to extract more than their fair share of their enterprise's profits …

important in curbing these private benefits. A high degree of statutory protection of minority shareholders and high degree of …

an information ea between management and outside shareholders. In the presence of such a gap, maximizing short-run and … actions that will reduce long-run value. In such a case, management faces the dilemma of which shareholders to please: those …

managers, institutional investors, small shareholders, auditors, and other parties involved in corporate governance. The lower …