We find that ownership by different types of institutional investors has varying implications for future firm misvaluation and governance characteristics. Dedicated institutional investors decrease future firm misvaluation, in both direction and magnitude, relative to fundamentals. In contrast,...

We find that ownership by different types of institutional investor has different implications for future firm misvaluation and governance characteristics. Dedicated institutional investors decrease future firm misvaluation relative to fundamentals, as well as the magnitude of this misvaluation....

This study investigates whether loosened monitoring from institutional investors affects firm tax planning decisions. We take advantage of shocks to unrelated parts of institutional investors’ portfolios and examine how plausibly exogenous changes in monitoring from institutional investors...

I investigate whether sustainable institutional investors influence their investee firms’ corporate tax avoidance. My results suggest that higher sustainable institutional ownership mitigates the tax avoidance of investee firms. In contrast, the level of ownership by non-sustainable...

Tax planning is part of modern financial management worldwide, and the countries of Central Europe are no exception. Tax havens provide opportunities for managers to increase companies profits through tax reduction. Naturally, there are differences in ownership structures; therefore, the...

We examine the relation between passive ownership and financial reporting quality measured by Beneish's (1999) earnings' manipulation score (M-score). We find that passive ownership is negatively related to M-score and to the likelihood of being designated as a “manipulator” firm. However,...

Purpose – The purpose of this paper is to analyse the role of ownership characteristics in a firm's choice of alternative seasoned equity offering (SEO) methods, offer price discounts, and market reactions to such announcements within the UK setting.Design/methodology/approach – The study...

With ESG and conscious capitalism dominating boardroom conversations across America, Delaware’s adoption of the Public Benefit Corporation (PBC) has been a recent attempt to support this movement by offering a new form of corporate governance that seeks to create a positive impact on society...