share classes. Our findings suggest that index membership significantly affects the controlling shareholder’s motivation to …

the principle of equal treatment of all shareholders. The key amendments are two-fold: (a) expanding the application of … shareholders, controlling or minority, multiple votes or one vote, shall be given the equal and fair opportunity to access the …

in Europe and Latin America, where several governments are large shareholders in a variety of public firms. In a sense …, the subprime crisis induced these governments to behave as active large shareholders. This paper uses a sample of public … firms in Brazil to show that government activism lowers the value of minority shareholders' voting rights. While the …

The nineteenth century saw the standardization and rapid spread of the modern business corporation around the world … favored small over large shareholders. In recent years, both legal scholars and economists have sought to explain these … schemes as a rough form of investor protection, shielding small shareholders from exploitation by controlling shareholders in …

Large outside shareholders, outside boards, and management entrenchment influence the choice of inside or outside CEOs … stock ownership of large outside shareholders and the fraction of the board seats held by outsiders. It falls as management … consistent with the view that large outside shareholders play an active role in controlling manager-shareholder conflicts …

blockholder when the cost of activism is low or the created value is high. Such a reform would favor minority shareholders …