more passive shareholders (lower ownership per non-institutional shareholder) are less likely to be takeover targets, less … likely to be acquired and command higher premiums. Using the adoption of anti-takeover law in Delaware as an exogenous shock … to anti-takeover protection, we show that the passiveness of shareholder base decreases as the takeover threat subsides …

This short technical report provides an empirical analysis of the level of institutional block ownership overall, and … of foreign block ownership, at a broad set of publicly traded corporations. Disclosed institutional blockholders of every … in three companies in the S&P 500 has one or more block holders with 20 % ownership, and one in eleven (9%) has one or …

compare them against their year-industry-size-matched firms (control group) before and after the ownership change. Difference …

oversight). Using the treatment of public corporate ownership in the proxy rules under the Securities and Exchange Act of 1934 …

understanding the effect of institutional investor ownership (IO) on firm outcomes. The authors take a comprehensive approach to …

a (hostile) takeover, as many researchers have assumed. To understand whether these issues matter for corporate … (short) position in firms with few (many) anti-takeover provisions produces annual excess returns of six to twelve percent …