Institutional investors
Shareholder activism
Corporate governance
Financial markets
Financial crises
Will asset managers with large amounts of capital and high risk-bearing capacity hold large blocks and monitor aggressively? Both block size and...
We ask why we observe multiple layers of decision-making in fund management with investors, sponsors, fund managers, and consultants, even if...
We show that supply-side effects arising from the bond holdings of open-end mutual funds affect corporate credit risk. In our model, funds exposed to...
Research highlight
Journal of Financial Economics, 144(2), 433-455
The growth of the asset management industry has made it commonplace for firms to have multiple institutional blockholders. In such firms, the strength...
Journal of Finance, 71(6), 2933-2966.
