The question of whether and how partial common-ownership links between strategically
interacting firms affect firm objectives and behavior has been the subject of theoretical …

Recently, the attention of business law scholars, corporate law practitioners, executives, and
corporate directors has turned to the role of giant index mutual funds as the most important …

We seek to contribute to understanding index fund stewardship by providing a
comprehensive theoretical, empirical, and policy analysis of such stewardship. We put …

Due to the embrace of modern portfolio theory, most of the stock market is controlled by
institutional investors holding broadly diversified economy-mirroring portfolios. Recent …

In a time of climate change, racial and economic inequality, and crisis stemming from the
global pandemic, corporations are alternately maligned for their conduct and embraced as a …

Passive investors—ETFs and index funds—are the most important development in modern-
day capital markets, dictating trillions of dollars in capital flows and increasingly owning …

For too long, students of the political economy of corporate governance have been
enthralled by the language of ownership and control. This language stems from Berle and …

Passively managed index funds now hold over 30 of US equity fund assets; this shift raises
fundamental questions about monitoring and governance. We show that, relative to active …

This Article aims to provide a foundation for a form of engagement by large institutional
investors and asset managers with their portfolio companies and with the broader corporate …

This article examines the role of the Big Three asset management firms–BlackRock,
Vanguard and State Street–in corporate environmental governance. Specifically, it …