Institutional ownership and the spillover effects of shareholder activism

Soft Shareholder Activism

This paper studies voice and exit as mechanisms of shareholder activism when obtaining costly formal control is not feasible. Different from the existing literature, voice is interpreted as a strategic transmission of information from an activist investor to an opportunistic manager. The analysis provides several results. First, voice and exit exhibit complementarity, and hence, exit can be an ...

Shareholder Activism: A Multidisciplinary Review

When Does Institutional Investor Activism Increase Shareholder Value?: The Carbon Disclosure Project

This paper presents the first empirical test of the financial impacts of institutional investor activism towards climate change. Specifically, we study the conditions under which share prices are increased for the Financial Times (FT) Global 500 companies due to participation in the Carbon Disclosure Project (CDP), a consortium of institutional investors with $57 trillion in assets. We find no ...

Tax Avoidance and Institutional Ownership: Active vs. Passive Ownership

Income tax is one of the most important costs of companies and it is usually considered as a cost that should not be paid. One of the most noticeable and influential factors in tax avoidance is corporate ownership structure. With an emphasis on institutional ownership and its types in this paper, it is attempted to measure the effect of this ownership and its types on corporate tax avoidance. F...

the effects of planning on accuracy and complexity of iranian efl students’ written narrative task performance

this study compared the different effects of form-focused guided planning vs. meaning-focused guided planning on iranian pre-intermediate students’ task performance. the study lasted for three weeks and concentrated on eight english structures. forty five pre-intermediate iranian students were randomly assigned to three groups of guided planning focus-on-form group (gpfg), guided planning focus...