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

This study examines the relationship between positive and negative investor sentiments and
stock market returns and volatility in Group of 20 countries using various methods, including …

We derive a measure that captures the extent to which common ownership shifts managers'
incentives to internalize externalities. A key feature of the measure is that it allows for the …

This paper examines the causal effect of capital market liberalization on the systemic risk of
non-financial firms (NFFs), a topic that has received little attention in the literature. We exploit …

This paper quantifies the interrelations induced by common asset holdings among financial
institutions. A network representation emerges, where nodes represent portfolios and edge …

Montenegrin Journal of Economics Page 1 Bestari Dwi Handayani, Abdul Rohman, Anis Chariri
and Imang Dapit Pamungkas / Montenegrin Journal of Economics, Vol. 16, No. 3 (2020) …

This paper investigates the effect of active institutional investor networks on firm value. Using
data on US institutional investors, we document that block-holdings from more central, active …

Purpose This study aims to examine the extent to which information asymmetry affects
investment efficiency and whether the presence of blockholders moderate this relationship …

We propose and test a new explanation for forced CEO turnover, and examine its
implications for the impact of firm performance on CEO turnover. Investors may disagree with …

Cross-firm predictability among economically linked firms can arise when both firms exhibit
their own momentum and their returns are contemporaneously correlated. We show that …