This paper examines the relation between firm investment ratios and institutional blockholder ownership for a sample of …-term, and local institutional investors boost investment ratios, consistent with the monitoring role and blockholder voice …

access to exogenous variation in conflict intensity. We exploit a unique administrative dataset from Colombia’s largest …, but not in risk, underlie the increase in credit demand. Third, conflict is not the binding constraint on investment in … areas with low access to markets. Higher investment, unchanged default rates and additional evidence of increased nighttime …