This paper examines the impact of foreign institutional ownership on debt contracting. Using a sample of international syndicated loans extended to non-U.S. borrowers, we find that lenders demand more debt covenants when borrowers have a higher proportion of equity held by U.S. foreign...

We examine the effect of institutional investors on labor-related misconduct. We find that institutional ownership is negatively associated with firms' propensity to violate federal labor laws. Additional tests using instrumental variables and regression discontinuity suggest a causal relation....

Financial institutions differ from individual investors both in their analytical ability and in their level of diversification. Their access to derivative markets is also superior compared to that enjoyed by individual investors. All these factors make institutional investors more capable of...

Financial institutions differ from individual investors both in their analytical ability and in their level of diversification. Their access to derivative markets is also superior compared to that enjoyed by individual investors. All these factors make institutional investors more capable of...