While shareholder engagement has captured much attention recently, the evidence on the role of large institutional investors remains relatively scarce. Large asset managers have become an increasingly powerful force since the financial crisis of 2008, with the top 20 managers controlling...

Private actors in “following” countries usually encounter problems with the enforcement of well-developed and effective “Western-style” contracting techniques. A common response is the structuring of commercial transactions according to foreign law. This pattern of development fully...

The rise of a small group of investment (asset) managers with an enormous potential to influence corporate decision-making has reinforced attention to shareholder stewardship as one of the pillars of corporate governance. But weak incentives to invest in shareholder oversight and limited...