In an article forthcoming in the Journal of Corporate Law, Systematic Stewardship with Tradeoffs, Profs. Kahan and Rock take issue with the portfolio approach that I offered in Systematic Stewardship (47 J. Corp. L. 627 (2022)) on the grounds that corporate law requires a “single firm focus”...

This paper studies the role of shareholder activism on corporate leases. We find that the presence of shareholder activists is associated with large increases in leasing. This association is stronger in periods of high real estate prices and for firms with larger amounts of real estate assets....

Academics and regulators have given significant attention to the impact of institutional investors on the companies in which they invest. Some are concerned that the institutional investors act as common owners. But in their active ownership policies institutional investors often say they are...

This exploratory study is about understanding the structure of networks of financial institutions in the Philippines. The literature notes that the financial sector occupies a central position within corporate networks. More importantly, the significance of learning more deeply about the...