about how free markets can work to the benefit of all. Shareholders, not politicians, should decide how to run their … preferable to a more protectionist approach, where change is resisted, competitive pressures are weakened, and shareholders …

This is the first comprehensive study of the distribution of voting rights to shareholders. Only those owning stock on …

We develop a theoretical model to study investors' trading behavior in the presence of large shareholders' influence on … a firm's equity. We show that, for a good stock, large shareholders may invest a higher proportion of their wealth in … of board structure on the firm's equity when the firm possesses several large influential shareholders: (i) the large …

information among dispersed shareholders. We identify the two basic means to achieve this goal. First, the outsider must …

This paper analyzes the tendering decision of shareholders in fixed-price self-tender offers. We describe wealth … empirical study on the French market. First, based on the theoretical model, rational shareholders will prefer to tender or sell …