This paper studies the regulatory issues related to the “Sovereign Wealth Funds” (SWFs), described as “special purpose” government investment vehicles.Concerns have been expressed due to SWFs limited disclosure and transparency and their multiple investment objectives.While the risk of a...

The structure of the EU financial sector is changing as a result of regulatory reforms and firms, including so-called BigTechs, increasingly leveraging data access, analytical capability and innovative delivery mechanisms to market and distribute new bundles of financial and non-financial...

I analyze hedge fund activism within a simple behavioral finance framework where managers are excessively optimistic about their firm's long-run prospects, the market is efficient, and hedge fund activists are excessively pessimistic as a result of a behavioral winner's curse. This generates a...

In an era of ascendant globalization, sovereign wealth funds were used by governments around the world—and in particular by governments with massive natural resource wealth or balance-of-trade surpluses—to invest widely in foreign markets. Sovereign wealth funds were products of the...

We examine how boardroom gender diversity reforms impact the monitoring role of institutional investors. Using reforms from 25 countries that aim to improve gender diversity on boards, we find that the reforms increase the association between institutional ownership and subsequent female...

A defining characteristic of the financial industry is the overwhelming presence of affiliates—entities that are connected with one other through ownership, management, or a contractual relationship. Although the relationships among affiliated entities serve the business needs of financial...

The article assesses the phenomenon of “de-humanization” of human rights with respect to two highly contrasting examples: “corporate human rights” and the “Rights of Nature” movement. It analyses the approaches regional human rights courts and regional courts of economic integration...

Stakeholder capitalism conceives of capitalism with companies maximizing their long-term value, while considering in addition to the interests of their shareholders, also the interests of all their other stakeholders. Examples of such additional stakeholders include customers, employees,...