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We present the first broadly representative study for any early twentieth century economy of the extent to which quoted company ownership was already divorced from managerial control. In the 337 largest, independent, UK companies in the Investor's Year Book (those with \pounds 1m or more share...
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owners, this difference is not statistically significant. Looking at management practices in detail we find that Private …We use an innovative survey tool to collect management practice data from over 4,000 medium sized manufacturing firms … Equity-owned firms have strong people management practices (hiring, firing, pay and promotions) but even stronger operations …
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with career-concerns, where institutional owners increase managerial incentives to innovate by reducing the career risk of …
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