Purpose - This study aims to examine the effect of ownership concentration and foreign ownership on tunneling activities in Indonesia. Design/methodology/approach - The population in this study were manufacturing companies listed on the Indonesian Stock Exchange from 2014 to 2018. The total...

The rise of passive investing is leading to a new reality of horizontal ownership in combination with a reconcentration of corporate control, notably at the Big Three passive asset managers BlackRock, State Street and Vanguard. We introduce the concept of mandate ownership and point to a process...

We study the incentives of firms that hold partial vertical ownership to foreclose rivals. Compared to a full vertical merger, with partial ownership, a firm may obtain only part of the target's profit but may nevertheless be able to influence the target's strategy significantly. The target may...