This survey examines the vibrant academic literature on environmental, social, and
governance (ESG) investing. While there is no consensus on the exact list of ESG issues …

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 …

Abstract Research Summary This article examines whether—in the absence of mandated
disclosure requirements—shareholder activism can elicit greater disclosure of firms' …

Research summary: In this paper, we theorize and empirically investigate how a long‐term
orientation impacts firm value. To study this relationship, we exploit exogenous changes in …

We aim to tackle the longstanding debate on whether stock liquidity enhances or impedes
firm innovation. This topic is of interest because innovation is crucial for firm‐and national …

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

Shareholder activism has become a dynamic institutional force, and its associated, rapidly
increasing body of scholarly literature affects numerous disciplines within the organization …

We survey institutional investors to better understand their role in the corporate governance
of firms. Consistent with a number of theories, we document widespread behind‐the‐scenes …

This paper demonstrates a positive effect of stock liquidity on blockholder governance.
Liquidity increases the likelihood of block formation. Conditional upon acquiring a stake …

Mutual funds vary greatly in their reliance on proxy advisory recommendations. Over 25% of
funds rely almost entirely on Institutional Shareholder Services (ISS) recommendations …