mutual fund managers and corporate board members via shared education networks. We find that portfolio managers place larger … managers gaining an informational advantage through the education networks. Our results suggest that social networks may be an …

This paper examines the effect of the benefits of corporate control to managers on the relationship between managerial … the acquiring firm increases, the interests of managers are more closely aligned with those of shareholders, reducing the … acquisition premium. At sufficiently high levels of managerial ownership, managers value a reduction in the risk of their …

Corporate managers who own a majority of the common stock in their company or who represent another firm owning such an … interest appear to be less constrained than managers of diffusely held firms, yet their power to harm minority shareholders …. Finally, there is little evidence that new organizational mechanisms have evolved to constrain managers who own large blocks …

Stock prices react significantly to the tone (negativity of words) managers use on earnings conference calls. This …