We draw on a series of in-depth interviews with senior fund managers and senior company executives to explore how different and often-contradictory conceptualizations of institutional investors, their role in the corporate governance process, and their interactions with corporate management, are reflected in the attitudes and perceptions of the actors concerned. We find that while conceptualiza...

We apply the logical of comparative institutional analysis to the question of the governance of the relationship between private investors and the government. We consider two strategies that investors may follow: lobbying for the creation of a specialized political governance structure or the reliance on more general political mechanisms to influence policy in that sector on an ongoing basis. W...

We developed a model in which investment banks and institutional investors collaborate in smoothing an IPO’s transition to secondary market trading. Their intervention promotes welfare under the assumption that significant new information arrives in the market in the immediate aftermath of the IPO. Under this assumption, it is optimal to stage the offering and suboptimal to commit to selling sh...

Article history: Received 1 April 2011 Received in revised form 21 June 2012 Accepted 12 August 2012 Available online 30 August 2012 Notwithstanding their many environmental, economic and social advantages, renewable energy technologies (RE) account for a small fraction of the world's primary energy supply. One possible cause for this limited diffusion is that private investments in the RE sect...

The returns that institutional investors realize from private equity investments differ dramatically across institutions. Using detailed and hitherto unexplored records of fund investors and performance, we document large heterogeneity in the performance of different classes of limited partners. In particular, endowments’ annual returns are nearly 14% greater than average. Funds selected by inv...