to an influential argument, activist shareholders can offer a solution by supplying large investment managers with … shareholders – have different visions of stewardship with little scope for interactions. For large investment managers, general …

policies institutional investors often say they are long-term shareholders, socially responsible investors, or stakeholder …

costs between controlling and minority shareholders in a weak-institution environment …

to minority shareholder expropriation driven by related lending (“grabbing hand” effect), is offset by shareholders … shareholder protection, shareholders of state-owned banks rationally anticipate expropriation, but are willing to accept it in …We investigate the implications of government versus private ownership for bank minority shareholders. Specifically, we …

expropriation. Minority shareholders actively raise their voice against RPT resolutions, resulting in substantial shareholder …In the presence of business groups, the expropriation through related party transactions (RPTs) is common and costly to … minority shareholders. At the same time, it is well recognized that RPTs can help firms overcome market shortcomings. Using the …

This paper studies the payout policy of Italian firms controlled by large majority shareholders (controlled firms). The … controlling shareholders have strong incentives to expropriate minority shareholders, tend to prefer dividends over repurchases …