We investigate the nature and extent of information asymmetry among traders in companies with government ownership. Consistent with a less transparent information environment, we find relatively less informed trading in the shares of firms with government presence, and specifically, fewer...

The recent debate over reforming the Securities Exchange Act section 13(d) ten-day filing window demonstrates the importance of balancing the costs and benefits of delayed blockholder disclosure. While hedge fund activism may create shareholder value, short-termism is a very real problem for...

The corporation is the focal point for the accumulation and exercise of private power. This paper discusses issues relating to who controls the corporation and how it is governed, issues of significant economic, social, and political consequence in transitional economies. The paper focuses on...