Using data on anti-takeover provisions (ATPs) and top management characteristics hand-collected from IPO prospectuses, we analyze the effect of the pre-IPO innovativeness and the top management quality of private firms on the number and strength of ATPs in IPO firm charters. We test the...

We analyze the role of venture capitalists (VCs) in transforming the management and governance of China's private family firms pre-IPO. We show, causally, that VC-backed family firms are more likely than non-VC backed family firms to experience departures of family members from top management...

We analyze a firm's choice between dual class and single class share structures, either at IPO or subsequently, prior to an SEO. We consider an entrepreneur (quot;incumbentquot;) who obtains both security benefits and private benefits of control, and who wishes to sell equity to outsiders to...

We analyze the role of common equity blockholders in fostering the formation of strategic alliances, establish a positive causal effect of strategic alliances on corporate innovation, and analyze the channels through which strategic alliances foster innovation. Our findings may be summarized as...

In this paper, we analyze the effects of common institutional blockholders (CIBs) on the dividend policies of investee firms. We find that firms are more likely to pay dividends (and pay larger dividends) when dividends are more prevalent among other firms held by a CIB. We establish causality...