Recently, several academic theories have expressed concern over the growth of index funds. Some have argued that the growth of index funds will afford the asset managers who provide them too much influence over the public companies they invest in, through increased voting power and engagement...

Lines in the broader short versus long-term battle have been drawn between various camps: those favoring corporate management versus those favoring shareholder activists; those believing that corporations are best run for the exclusive benefit of shareholders versus those believing that other...

Firms use the labels of family relationships, such as parent companies, sister banks and brother-sister controlled groups. This article considers whether there are additional insights underlying such labels that could be portable to the corporate context, using the private equity (P-E) led...

This paper examines the investment terms of SWFs in respect of control rights in investee firms. Having reviewed extensive evidence from the China Investment Corporation from 2007 to 2015, I show that this SWF takes significant equity in investees, but often in the form of non-controlling...

In recent years, the increasing cross-border investments by sovereign wealth funds have aroused high profile controversies, particularly over the strategic motives behind them and the potential control they could exert over target firms. Using a hand-collected dataset consisting of 51 M&As, 5...

Pichhadze (2010) introduced the Market Oriented Blockholder Model (MOBM) as properly describing the ownership pattern in the American equity markets. Under the model, the emerging blockholder in the American equity markets is the institutional investor (II). This poses a challenge to the...

We use a web-based asset market experiment to study whether ESG information affects the portfolio choices of retail investors. We find a significantly higher portfolio allocation to stocks with ESG information in the order of 11 percentage points compared to a control group where no ESG...