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Trustees and other investment fiduciaries of pensions, charities, and personal trusts, and those who advise them, face increasing pressure to rely on ESG factors in the investment management of tens of trillions of dollars of other people's money. At the same time, however, confusion abounds...
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. Inside ownership reflects the classic tradeoff between incentives and risk diversification, and the severity of agency costs …, inside ownership, and the marginal cost of capital. We discuss implications for the determinants of firm size, the … relationship between Tobin's Q and ownership, and the effect of financial liberalizations. …
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1. Chapter One: Introduction -- 2. Chapter Two: Self-Ownership and Property Rights -- 3. Chapter Three: Legacies of … self-ownership and individual responsibility. They correctly point out that the hardships that the ancestors of those now …
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