Although shareholder activism has gained in importance over the years and a growing body of literature has investigated activism-related problems companies face, little is known about activism by small individual shareholders. We attempt to fill this void by investigating under which conditions...

Contrary to previous research which focuses largely on external constraints on expropriation of minority investors, this paper investigates how psychological and socio-political factors affect principal-principal conflicts of interest in firms. We rely on preference heterogeneity and locus of...

This study focuses on the impact of social relations on the efficiency of the governance structure. Social capital which accrues from the dyadic and network relationships between the CEO, the board of directors and corporate owners is argued to have multiple and very different effects on the...