In theory, large institutional investors are in an excellent position to overcome collective action problems and form voting coalitions to actively monitor and discipline managers of public corporations. This article argues that it is highly unlikely that voting coalitions of institutional...

Existing incomplete contracting models assume that contracting parties have perfect self-control. This Article approaches the incomplete contracting problem from a new perspective, one that brings to the foreground the potential self-control problems faced by contracting parties. In particular,...