Passive Investors, Not Passive Owners

No abstract is available for this paper.

• Publication year

  2016

• Venue

  Journal of Financial Economics

• Publication date

  2016-02-06

• Fields of study

  Business, Economics

• Identifiers
  DOI 10.1016/J.JFINECO.2016.03.003
• External record

  Open on Semantic Scholar

• Source metadata

  Semantic Scholar

• No claims are published for this paper.

• No concepts are published for this paper.

• Soft Shareholder Activism

  2018cited by this paper
• The Deleveraging of U.S. Firms and Institutional Investors' Role

  2017cited by this paper
• The Changing Nature of Institutional Stock Investing

  2017cited by this paper
• The Effect of Institutional Ownership on Payout Policy: Evidence from Index Thresholds

  2016cited by this paper
• Indexing and Active Fund Management: International Evidence

  2016cited by this paper
• 8-17-2011 Voting Through Agents : How Mutual Funds Vote on Director Elections

  2015cited by this paper
• The Effect of Institutional Ownership on Firm Transparency and Information Production

  2015cited by this paper
• The Deleveraging of U . S . Firms and Institutional Investors ’ Role

  2015cited by this paper
• Do Analysts Matter for Governance? Evidence from Natural Experiments

  2015cited by this paper
• Are Mutual Funds Active Voters

  2015cited by this paper
• Motivated monitors: The importance of institutional investors׳ portfolio weights

  2015cited by this paper
• The Governance Impact of Index Funds : Evidence from Regression Discontinuity

  2014influential reference
• Blockholders and Corporate Governance

  2014cited by this paper
• Common Errors: How to (and Not to) Control for Unobserved Heterogeneity

  2014cited by this paper
• The Effect of Institutional Ownership on Payout Policy : Evidence from Index Thresholds

  2014influential reference
• Liquidity and Governance

  2014cited by this paper
• Fact and Fiction in Corporate Law and Governance

  2013cited by this paper
• How Do Staggered Boards Affect Shareholder Value? Evidence from a Natural Experiment

  2013cited by this paper
• Endogeneity in Empirical Corporate Finance1

  2013cited by this paper
• Regression Discontinuity and the Price Effects of Stock Market Indexing

  2013cited by this paper
• CEO Compensation and Corporate Risk: Evidence from a Natural Experiment

  2013cited by this paper
• Innovation and Institutional Ownership

  2013cited by this paper
• The Effect of Liquidity on Governance

  2013cited by this paper
• Endogeneity in Empirical Corporate Finance∗

  2012cited by this paper
• Corporate Governance Objectives of Labor Union Shareholders: Evidence from Proxy Voting

  2012cited by this paper
• 《The influence of institutional investors on myopic R＆D investment behavior》述评

  2012cited by this paper
• Threshold Events and Identification: A Study of Cash Shortfalls

  2012cited by this paper
• Mutual Fund Industry Selection and Persistence

  2012cited by this paper
• Nonbinding Voting for Shareholder Proposals

  2011cited by this paper
• The Effect of Liquidity on Governance

  2011cited by this paper
• Governance Through Trading and Intervention: A Theory of Multiple Blockholders

  2011cited by this paper
• When Are Outside Directors Effective

  2010cited by this paper
• Hedge Fund Activism: A Review

  2010influential reference
• Activist arbitrage: A study of open-ending attempts of closed-end funds

  2010influential reference
• Control of Corporate Decisions: Shareholders vs. Management

  2010cited by this paper
• Extreme Governance: An Analysis of Dual-Class Firms in the United States

  2010cited by this paper
• Regression Discontinuity Designs in Economics

  2010cited by this paper
• Charles A . Dice Center for Research in Financial Economics Does Governance Travel Around the World ? Evidence from Institutional Investors

  2010influential reference
• Corporate Governance and Institutional Ownership

  2010cited by this paper
• CEO Compensation and Board Structure

  2009cited by this paper
• Entrepreneurial Shareholder Activism: Hedge Funds and Other Private Investors

  2009cited by this paper
• Does it Pay to Be Good...And Does it Matter? A Meta-Analysis of the Relationship between Corporate Social and Financial Performance

  2009cited by this paper
• Boards: Does One Size Fit All?

  2008cited by this paper
• Hedge Fund Activism, Corporate Governance, and Firm Performance

  2008influential reference
• Blockholder Trading, Market E¢ ciency, and Managerial Myopia

  2008cited by this paper
• Undoing the Powerful Anti-Takeover Force of Staggered Boards

  2008cited by this paper
• Panel data models and transitory fluctuations in the explanatory variable

  2008cited by this paper
• Mostly Harmless Econometrics: An Empiricist's Companion

  2008cited by this paper
• The Evolution of Shareholder Activism in the United States

  2007cited by this paper
• The 'Wall Street Walk' and Shareholder Activism: Exit as a Form of Voice

  2007cited by this paper
• Business ties and proxy voting by mutual funds

  2007cited by this paper
• Undoing the Powerful AntiTakeover Force of Staggered Boards

  2006cited by this paper
• Mutual Funds and Proxy Voting: New Evidence on Corporate Governance

  2006cited by this paper
• Institutional Holdings and Payout Policy

  2005cited by this paper
• Governance Mechanisms and Equity Prices

  2005cited by this paper
• What Matters in Corporate Governance?

  2004cited by this paper
• Institutional Investors and Executive Compensation

  2003cited by this paper
• The Powerful Antitakeover Force of Staggered Boards: Theory, Evidence, and Policy

  2002cited by this paper
• A Survey of Weak Instruments and Weak Identification in Generalized Method of Moments

  2002cited by this paper
• The Powerful Antitakeover Force of Staggered Boards: Further Findings and a Reply to Symposium Participants

  2002cited by this paper
• Do IPO Charters Maximize Firm Value? Antitakeover protection in IPOs

  2001cited by this paper
• Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature

  2001cited by this paper
• Do Institutional Investors Prefer Near-Term Earnings over Long-Run Value?

  2001cited by this paper
• Takeover Defenses in the Shadow of the Pill: A Critique of the Scientific Evidence

  2001cited by this paper
• The Impact of Shareholder Activism on Target Companies: A Survey of Empirical Findings

  2001cited by this paper
• Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature

  2001cited by this paper
• Corporate Governance Proposals and Shareholder Activism: The Role of Institutional Investors

  2000cited by this paper
• The Motivation and Impact of Pension Fund Activism

  1999cited by this paper
• The Influence of Institutional Investors on Myopic R&D Investment Behavior

  1999influential reference
• Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers

  1999cited by this paper
• Large Shareholders as Monitors: Is There a Trade-Off between Liquidity and Control?

  1998cited by this paper
• The Non-Correlation between Board Independence and Long-Term Firm Performance

  1998cited by this paper
• Agency Problems and Dividend Policies around the World

  1998cited by this paper
• An analysis of mutual fund design: the case of investing in small-cap stocks 1 1 I have benefited fr

  1998cited by this paper
• Endogenously Chosen Boards of Directors and Their Monitoring of the CEO

  1998cited by this paper
• The Influence of Institutions on Corporate Governance through Private Negotiations: Evidence from TIAA-CREF

  1997cited by this paper
• Shareholder Activism and Corporate Governance in the United States

  1997cited by this paper
• Public Pension Fund Activism in Corporate Governance Reconsidered

  1993cited by this paper
• US institutional investors look at corporate governance in the 1990s

  1993cited by this paper
• Agents Watching Agents: The Promise of Institutional Investor Voice

  1992cited by this paper
• Takeover Threats and Managerial Myopia

  1988cited by this paper
• Outside directors and CEO turnover

  1988cited by this paper
• Large Shareholders and Corporate Control

  1986cited by this paper
• Voting in Corporate Law

  1983cited by this paper
• Separation of Ownership and Control

  1983cited by this paper
• The free-rider problem and the theory of the corporation

  1980cited by this paper

• Quasi-indexers’ ownership and capital budgeting efficiency of firms

  2026cites this paper
• Protective Role of ESG Disclosure in Firm Valuation During Global Crisis: Evidence From Institutional Investor Ownership

  2026cites this paper
• Do director ownership plans change director behavior?

  2026cites this paper
• Common ownership and executive pay duration

  2026cites this paper
• A study of anti-hedge policies: determinants and consequences

  2026cites this paper
• The dark side of retail investors' green activism: evidence from corporate greenwashing

  2026cites this paper
• Index rebalancing and stock market composition: Do indexes time the market?

  2026cites this paper
• Institutional Investors, Dividend Policy, and Idiosyncratic Volatility: Evidence from European Equity Markets

  2026cites this paper
• Motivated institutional investors and corporate debt choices: Do minority shareholders matter?

  2026cites this paper
• Onsite oversight: Institutional site visits and stock return volatility

  2026cites this paper
• Never waste a crisis: Do stock market manipulators exploit geopolitical risks?

  2026cites this paper
• In Search of Shares: Benchmarked Ownership, Short Covering, and Price Efficiency

  2026cites this paper
• Related party sales and firm value: the moderating role of dispersed institutional ownership, debt and timeliness of financial reporting

  2026cites this paper
• Insurance funds’ shareholding and firm innovation

  2026cites this paper
• Does the presence of institutional dual holders affect audit pricing?

  2026cites this paper
• The Influence of Common Institutional Ownership on Corporate Tax Planning

  2026cites this paper
• ETF ownership and corporate default risk: Evidence from Chinese stock market

  2026cites this paper
• Institutional Investors’ Green Attention and Corporate Environmental Information Disclosure: Evidence from Site Visits

  2026cites this paper
• Does Passive Ownership Affect Corporate Governance? Evidence from the Bank of Japan’s ETF Purchasing Program

  2025cites this paper
• The role of common ownership in shaping ESG rating uncertainty: A collaborative governance perspective across time horizons

  2025cites this paper
• Common institutional ownership and the cost of equity capital: evidence from China

  2025cites this paper
• Driving climate risk awareness: The impact of the Big Three

  2025cites this paper
• The impact of prices on analyst cash flow expectations: Reconciling subjective beliefs data with rational discount rate variation

  2025cites this paper
• On the hidden costs of passive investing

  2025cites this paper
• Institutional shareholder distraction and workplace safety

  2025cites this paper
• Institutional Investors and ESG Performance: Evidence from China

  2025cites this paper
• A Study of the Effect of Patient Capital on Climate Transition Risk Disclosure by Energy Companies

  2025cites this paper
• Institutional investor cliques and innovation

  2025cites this paper
• Index Creation, Information Changes, and Financing*

  2025cites this paper
• Common Institutional Ownership and Corporate Green Transition: Promotion or Inhibition?

  2025cites this paper
• The Inhibition of Institutional Investors' Shareholding on Insider Trading Profitability

  2025cites this paper
• (In)Attention: Distracted Shareholders and Corporate Innovation

  2025cites this paper
• Supervision Shadows and Information Silence: The Real Effect of Institutional Investor Distraction

  2025cites this paper
• Can corporate site visits by institutional investors improve the quality of corporate environmental information disclosure? Evidence from China

  2025cites this paper
• Do Institutional Cross‐Owners Obstruct Corporate Environmental Information Disclosure? Evidence From China

  2025cites this paper
• Turning on A Virtuous Cycle across Corporations: The Diversity Spillover Effect through Female Leadership Exposure

  2025cites this paper
• Beyond Ownership: The Role of Institutional Investors in International Corporate Governance

  2025cites this paper
• Green banking illusion? The influence of “Eco-Conscious” bank shareholders on credit allocation

  2025cites this paper
• Clawback adoptions and institutional investment decisions

  2025cites this paper
• Are institutional investors effective monitors in a country where closely held firms predominate? Insights from agency problem-driven dividend payouts

  2025cites this paper
• The Big Three Passive Investors and the Cost of Equity Capital

  2025cites this paper
• The information advantage of industry common owners and its spillover effect on stock price crash risk

  2025cites this paper
• Institutional ownership and firm performance by life-cycle stage

  2025cites this paper
• Decoding mutual fund performance: current pathways and new avenues

  2025cites this paper
• Comovement and S&P 500 membership

  2025cites this paper
• Executive incentives under common ownership

  2025cites this paper
• Institutional Ownership and Tail Risk Comovement in Banks

  2025cites this paper
• Institutional investors, tax havens, and multinational subsidiaries

  2025cites this paper
• Institutional monitoring and the non-linear effect on audit quality. UK evidence

  2025cites this paper
• Can motivated funds mitigate ESG disagreement? Evidence from China

  2025cites this paper
• Common Ownership Research: Implications for Corporate Governance

  2025cites this paper
• Insider pledging, board characteristics and firm performance: evidence from Taiwan

  2025cites this paper
• Dose common institutional ownership constrain tunneling?

  2025cites this paper
• Climate Change and Mutual Fund Voting on Climate Proposals

  2025cites this paper
• The Role of Index Fund Ownership in the Era of Say‐on‐Pay

  2025cites this paper
• Financing sustainability: Sustainable institutional investors and bank loan access

  2025cites this paper
• Securities Lending and Trading by Active and Passive Funds

  2025cites this paper
• Environmental, Social, and Governance (ESG) Performance and New Quality Productivity in China: The Mediating Role of Patient Capital

  2025cites this paper
• Incentives matter: Domestic funds and price informativeness improvement

  2025cites this paper
• Governance or collusion? The M&A effects of common institutional ownership

  2025cites this paper
• Stock market reactions to a sovereign wealth fund's broad-based public sustainability engagement: European evidence

  2025cites this paper
• Stakeholder orientation and insider trading

  2025cites this paper
• Impact of an institutional investor as common ownership on the corporate environmental performance in Korea

  2025cites this paper
• Sustainable ETFs: A Systematic Bibliometric Analysis

  2025cites this paper
• Responsible investors and the readability of CSR reports

  2025cites this paper
• Thirty Years of Change: The Evolution of Classified Boards

  2025cites this paper
• ESG performance in GCC banks: the influence of ownership structure, risk attitude and board characteristics in Islamic vs conventional contexts

  2025cites this paper
• What Drives Sustainable Institutional Engagement and Voting Behavior?

  2025cites this paper
• Are all ravens black? How does corporate governance in US and Chinese firms rein in excessive CEO pay?

  2025cites this paper
• Why Do Firms Repurchase their Shares when They are Overpriced?

  2025cites this paper
• Watchdogs of greenwashing: The role of long-term institutional cross-ownership

  2025cites this paper
• Hedge Fund Activism and Loan Loss Provisioning in U.S. Banks

  2025cites this paper
• Does Big Three ownership affect the strategic propensity to reinvest or distribute cash flow? Evidence from the UK and Sweden

  2025cites this paper
• Institutional Investor Horizon and Corporate Green Innovation: Evidence from Chinese Listed Companies

  2025cites this paper
• Can artificial intelligence mitigate corporate fraud? Exploring the influence of institutional cross-holdings and financial misallocation

  2025cites this paper
• Economic policy uncertainty and institutional investor cliques

  2025cites this paper
• Board gender diversity and ESG disclosure: the spillover effect of governance

  2025cites this paper
• Can ETFs improve corporate ESG performance? Evidence from China

  2025cites this paper
• Whose firm? Resilience of the German corporate sector to financialization

  2024cites this paper
• Multiple large shareholders, earnings management, and operating risk: Empirical evidence from China

  2024cites this paper
• Cross‐ownership, business dynamism, and wage inequality in general equilibrium

  2024cites this paper
• In the Pursuit of Greenness: Drivers and Consequences of Green Corporate Revenues

  2024cites this paper
• How Do ETFs Affect Stock Volatility?

  2024cites this paper
• When shareholders cross-hold lenders’ equity: The effects on the costs of bank loans

  2024cites this paper
• A Contingency View of Impression Management: Heterogeneous Investor Responses to CEO Positive Portrayal of Mergers and Acquisitions

  2024cites this paper
• Who Clears the Market When Passive Investors Trade?

  2024cites this paper
• Effect of stock liquidity on the economic value of patents: Evidence from U.S. patent data

  2024cites this paper
• Do Institutional Investors Mitigate ESG Misbehavior?

  2024cites this paper
• Income Level and Population Aging Impact on Retirement Savings in OECD Countries

  2024cites this paper
• Investing while lending: Do index funds improve managerial information disclosure?

  2024cites this paper
• Do Large Registered Investment Funds undermine shareholder activism? Evidence from Hedge Fund proposals

  2024cites this paper
• The internationalization of capital market and corporate innovation capabilities: A quasi-natural experiment on the inclusion of China's A-shares in the MSCI index

  2024cites this paper
• On “Innovation and institutional ownership”

  2024cites this paper
• Passive Investment and Share Repurchases

  2024influential citation
• Hedge fund activism in family firms

  2024cites this paper
• Intraday variation in cross-sectional stock comovement and impact of index-based strategies

  2024cites this paper
• ETF Ownership and Stock Pricing Efficiency: The Role of ETF Arbitrage

  2024cites this paper
• Foreign Institutional Investors, Controlling Shareholders, and Market Timing: Evidence from India

  2024cites this paper
• How Managerial Capital Gains Taxes Increase Deception: Evidence from Stock Price Crash Risk

  2024cites this paper
• Earnings management in the post‐IPO years and their impact on the long‐run stock performance of foreign versus domestic IPO firms

  2024cites this paper