blockholder governance through both voice (direct intervention) and exit (selling one's shares). We survey the empirical evidence … corporate governance. We start with the underlying property rights of public corporations; we discuss how blockholders are … active in firm governance. We then examine what distinguishes a blockholder from an ordinary shareholder and advocate …

shareholders) engage in corporate governance. In classical models, blockholders exert governance through direct intervention in a … consequences of activism. More recent models show that blockholders can govern through an alternative mechanism known as “exit … governance by extracting private benefits of control or pursuing objectives other than firm value maximization. I highlight the …

shareholders) engage in corporate governance. In classical models, blockholders exert governance through direct intervention in a … consequences of activism. More recent models show that blockholders can govern through the alternative mechanism of “exit … governance by extracting private benefits of control or pursuing objectives other than firm value maximization. I highlight the …

This paper studies the corporate governance and asset pricing implications of investors owning blocks in multiple firms …. Common wisdom is that multi-firm ownership weakens governance because the blockholder is spread too thinly. We show that this … need not be the case. In a single-firm benchmark, the blockholder governs through exit, selling her stake if the firm …

Sustainable finance – the integration of environmental, social, and governance (“ESG”) issues into financial decisions …