This paper reviews the theoretical and empirical literature on the role of blockholders (large
shareholders) in corporate governance. We start with the underlying property rights of public …

This paper reviews the theoretical and empirical literature on the channels through which
blockholders (large shareholders) engage in corporate governance. In classical models …

We examine relationship between common institutional ownership and corporate social
responsibility (CSR). We find that common institutional ownership is negatively associated …

We analyze the effects of institutional cross-ownership of same-industry firms on product
market performance and behavior. Our results show that cross-held firms experience …

We estimate private benefits of control in 39 countries using 393 controlling blocks sales. On
average the value of control is 14 percent, but in some countries can be as low as− 4 …

This paper analyzes institutional investors' demand for stock characteristics and the
implications of this demand for stock prices and returns. We find that “large” institutional …

We study shareholder proposals across a period of substantial activity and find systematic
differences both across sponsor identity and across time. To measure the success of …

" Aswath Damodaran is simply the best valuation teacher around. If you are interested in the
theory or practice of valuation, you should have Damodaran on Valuation on your bookshelf …

We consider the execution of portfolio transactions with the aim of minimizing a combination
of volatility risk and transaction costs arising from permanent and temporary market impact …

We derive dynamic optimal trading strategies that minimize the expected cost of trading a
large block of equity over a fixed time horizon. Specifically, given a fixed block S̄ of shares …