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

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 …

Large shareholders may play an important role for firm performance and policies, but identifying this empirically … to separate selection from treatment effects of large shareholders. Individual blockholders tend to hold blocks in public …. These shareholders have a large impact on firms, controlling for selection effects …

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

We identify important conflicts of interests among shareholders and examine their effects on corporate decisions. When … a firm is considering an action that affects other firms in its shareholders' portfolios, shareholders with … corporate acquisitions, where bidder shareholders with holdings in the target want management to maximize a weighted average of …

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 …