We link investor ownership to profit loads on rival firms by the managers of a firm. We propose a theory model in which we distinguish between passive and active investors’ holdings, where passive investors are relatively more diversified. We find that if passive investors become relatively...

We link investor ownership to profit loads on rival firms by the managers of a firm. We propose a theory model in which we distinguish between passive and active investors’ holdings, where passive investors are relatively more diversified. We find that if passive investors become relatively...

In view of the sizeable climate change challenge, we need a clean innovation machine operating at full speed. Beyond the supply of public clean R&D infrastructure and clean public purchases, the development and adoption of new clean technologies by the private sector needs to be assured to...