Interventions by Common Owners

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2021-03-23 DOI:10.1093/joclec/nhab006

Nathan Shekita

引用次数: 0

Abstract

Common ownership exists when investors concurrently hold partial and significant shares in related firms. In this paper, I compile, document, and taxonomize 30 separate cases of intervention to demonstrate how common owners influence firm behavior. Although previous literature has identified a link between common ownership and product market outcomes, critics have questioned a common owner’s ability and incentive to alter the behavior of portfolio firms. Missing from the debate are observable interventions from common owners and the mechanisms through which common owners exercise their influence. This paper compiles relevant case studies from media coverage, regulatory proceedings, policy groups, and annual stewardship reports to uncover these channels.

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共有人的介入

当投资者同时持有相关公司的部分和重要股份时，就存在共同所有权。在本文中，我汇编、记录并分类了30个独立的干预案例，以证明共同所有者如何影响公司行为。虽然以前的文献已经确定了共同所有权与产品市场结果之间的联系，但批评者质疑共同所有者改变投资组合公司行为的能力和动机。辩论中缺少的是可观察到的共同所有者的干预以及共同所有者行使其影响力的机制。本文从媒体报道、监管程序、政策团体和年度管理报告中收集相关案例研究，以揭示这些渠道。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.