shareholders) engage in corporate governance. In classical models, blockholders exert governance through direct intervention in a …

shareholders. Rather, at many nineteenth-century corporations, common shareholders were also customers and shareholding offered … shareholders (those more concerned with access to loans) and negatively to large-block institutional investors (those more …'s loans, which reduced the bank's ability to extend credit to other shareholders …

In most countries, many of the largest corporations are controlled by large shareholders. We show that, under … equilibrium. We construct an estimate of the world portfolio of shares available to investors who are not controlling shareholders …

GIM Index or the proportion of activist shareholders. Following these special meetings, we find that the next quarter …

interest appear to be less constrained than managers of diffusely held firms, yet their power to harm minority shareholders … a majority shareholders -- capital market activity -- also appears to be no different from firms with diffuse ownership … that the law constrains managerial majority shareholders, both in their day-to-day management and when they redeem the …

's debtholders to bail out the firm as bankruptcy looms. Because of this implicit guarantee, firm shareholders have an incentive to …

shareholders via tunneling, even in the Berle and Means (1932) world of the “widely held firm.”Institutional subscribers to the …

important in curbing these private benefits. A high degree of statutory protection of minority shareholders and high degree of …