How to protect public investors from expropriation by controlling shareholders in firms with concentrated ownership structures continues to be a challenge for many markets including the U.S. In this paper, we examine the effect of having a token minority activist shareholder on improving...

We study the role of common venture capital investors in alleviating asymmetric information between public acquirers and private venture capital-backed targets. We find that acquisition announcement returns are more positive for acquisitions in which both the target and the acquirer are financed...

This paper explores two broad questions on collaboration between individuals. First, we investigate what personal characteristics affect people's desire to work together. Second, given the influence of these personal characteristics, we analyze whether this attraction enhances or detracts from...