We show how the change to differential voting rights allows dominant shareholders to retain control even after selling … fosters corporate control activity and creates higher takeover premiums that are paid equally to all shareholders …

In most countries, many of the largest corporations are controlled by large shareholders. We show that, under … equilibrium. We construct an estimate of the world portfolio of shares available to investors who are not controlling shareholders …

In most countries, many of the largest corporations are controlled by large shareholders. We show that, under … equilibrium. We construct an estimate of the world portfolio of shares available to investors who are not controlling shareholders …

Motivated by a growing interest in the governance role of large shareholders with diversified equity portfolios, we … examine the effect of diversified large shareholders on voluntary corporate disclosures. With substantial equity stakes, large … shareholders generally have more access to private information about portfolio firms relative to small shareholders. We suggest …

shareholders’ portfolio diversification affects voluntary corporate disclosure. We define diversification as the extent to which …Although large shareholders have sufficient influence to engage privately with management, extant literature provides … investors spread investments among portfolio stocks. We predict that holding a diversified portfolio deters large shareholders …

time a specific channel through which financial development, in the form of bank shareholders' diversification, affects the …Using the entire universe of Bankscope and Amadeus Top 250,000 we construct the portfolios of shareholders who hold … about 62% of banks' ultimate largest shareholders are diversified investors, holding on average equity investments from …