subsequent decrease in real investment precisely in firms that invest too much. In support of the monitoring hypothesis, we show … influence on investment. We address the potential problem of endogeneity using the inclusion of a firm to the S&P 500 Index as …

constraints, measured by the sensitivity of investment to cash flow. We develop two original corporate governance indices based on … standard investment regressions where the cash flow variable is interacted with our corporate governance indices and variables … of investment, particularly in firms with an outside controlling owner and in firms with low managerial ownership. In …

This paper investigates whether institutional investors influence firms' investment policies. By virtue of their … significant ownership stakes and investment horizons, long-term institutional investors should closely monitor management and thus … reduce agency conflicts in investment choices. Using a panel dataset of 2,511 U.S. manufacturing firms that went public …

Using an experiment to rule out reverse causality, we examine whether a small investment in a company's stock leads …

The rise of a small group of investment (asset) managers with an enormous potential to influence corporate decision … invest in shareholder oversight and limited resources confine voting and engagement by large investment managers. According … to an influential argument, activist shareholders can offer a solution by supplying large investment managers with …