The paper investigates how Private Equity (PE) ownership influences out-performance of a high-growth firm, and whether it differs from the effect of two other important types of financial investors: banks and non-bank financial firms. We transform the levered return on equity into a unlevered...

Mutual funds are significant blockholders in many corporations. Concerns that funds vote in a pro management manner to garner lucrative pensions contracts led the SEC to mandate the disclosure of proxy votes. We present a model of mutual fund voting in the presence of potential business ties. We...

Over thirty years, privatization of public enterprises was in the air. Before and during this period of neo-liberalism, and since the 2008 crisis, public enterprises were nonetheless created: they did what they were set up for and they frequently managed to get interesting results, as much on...