References
Ahuja, Maneet (2012), The Alpha Masters, John Wiley.
Bebchuk, Lucian and Hirst, Scott (2019), “Index Funds and the Future of Corporate Governance: Theory, Evidence, and Policy,” Columbia Law Review 119(8): 2029–2146.
Bebchuk, Lucian, Brav, Alon and Jiang, Wei (2015), “The Long-Term Effects of Hedge-Fund Activism,” Columbia Law Review 115(5): 1085–1155.
Marco, Becht, Franks, Julian, Grant, Jeremy and Wagner, Hammes F. (2017), “Returns to Hedge Fund Activism: An International Study,” The Review of Financial Studies 30(9): 2933–2971.
Berle, Adolf A. and Means, Gardiner C. (1932), Modern Corporation and Private Property, MacMillan.
Bethel, Jennifer E. and Gillan, Stuart L. (2002), “The Impact of the Institutional and Regulatory Environment on Shareholder Voting,” Financial Management 31(4): 29–54.
Bhagat, Sanjai, Black, Bernard and Blair, Margaret (2004), “Relational Investing and Firm Performance,” Journal of Financial Research 27(1): 1–30.
Biggs, John H. (2005), Keynote Speech, Institutional Investors as Owners Conference at the Stern School of Business, New York University (NYU).
Birch, Sarah (2009), Full Participation: A Comparative Study of Compulsory Voting, Manchester University Press.
Blair, Margaret (1995), Ownership and Control: Rethinking Corporate Governance for the Twenty-First Century, The Brookings Institution.
Blair, Margaret (2003a), Corporate Governance and Capital Flows in a Global Economy, Oxford University Press.
Blair, Margaret (2003b), “Locking in Capital: What Corporate Law Achieved for Business Organizers in the Nineteenth Century,” UCLA Law Review 51(2): 387–455.
Bogle, John (2005), The Battle for the Soul of Capitalism, Yale University Press.
Boyarsky, Bill (2007), Big Daddy: Jesse Unruh and the Art of Power Politics, University of California Press.
Brav, Alon, Graham, John R., Harvey, Campbell R. and Michaely, Roni (2005), “Payout Policy in the 21st Century,” Journal of Financial Economics 77(3): 483–527.
Brav, Alon, Jiang, Wei and Kim, Hyunseob (2010), “Hedge Fund Activism: Review,” Foundations and Trends in Finance 4(3): 1–66.
Brav, Alon, Jiang, Wei, Partnoy, Frank and Frank Thomas, Randall (2008), “Hedge Fund Activism, Corporate Governance and Firm Performance,” Journal of Finance 63(4): 1729–1775.
Brennan, Jason and Hill, Lisa (2014), Compulsory Voting: For and against, Cambridge University Press.
Brav, A., Jiang, W., & Kim, H. (2015). The Real Effects of Hedge Fund Activism: Productivity, Asset Allocation, and Labor Outcomes. Review of Financial Studies, 28(10).
Briggs, Thomas W. (2007), “Corporate Governance and the New Hedge Fund Activism: An Empirical Analysis,” Journal of Corporation Law 32(4): 682–738.
Joseph Evan, Calio and Xavier Zahralddin, Rafael (1994), “The Securities and Exchange Commission’s 1992 Proxy Amendments: Questions of Accountability,” Pace Law Review 14(2): 460–539.
Chandler, Alfred (1962), Strategy and Structure: Chapters in the History of the American Industrial Enterprise, MIT Press.
Chandler, Alfred (1977), The Visible Hand: The Managerial Revolution in American Business, Harvard University Press.
Chandler, Alfred (1990). Scale and Scope, Harvard University Press.
Cheffins, Brian R. (2013), “The History of Corporate Governance,” in Wright, Mike, Siegel, Donald S., Keasey, Kevin, and Filatotchev, Igor (2013) (eds.), The Oxford Handbook of Corporate Governance 54. https://doi.org/10.1093/oxfordhb/9780199642007.001.0001. Cheffins, Brian R. and Armour, John (2011), “The Past, Present, and Future of Shareholder Activism by Hedge Funds,” The Journal of Corporation Law 37(1): 51–103.
Cheng, Yingmei, Harford, Jarrad and Zhang, Tianming (2015), “Bonus-Driven Repurchases,” Journal of Financial and Quantitative Analysis 50(3): 447–475.
Cioffi, John W. (2006), “Corporate Governance Reform, Regulatory Politics, and the Foundations of Finance Capitalism in the United States and Germany,” German Law Journal 7(6): 533–561.
Coates, John C. IV (2018), “The Future of Corporate Governance Part I: The Problem of Twelve,” Harvard Public Law Working Paper 19–07.
Coffee, John C. (2012), “Dispersed Ownership: The Theories, the Evidence, and the Enduring Tension between ‘Lumpers’ and ‘Splitters’,” in Mueller, Dennis C. (ed.), The Oxford Handbook of Capitalism, Oxford University Press.
Coffee, John C. and Palia, Darius (2016), “The Wolf at the Door: The Impact of Hedge Fund Activism on Corporate Governance,” Annals of Corporate Governance 1(1): 1–94.
deHaan, David Larcker and McClure, Charles (2019), “Long-Term Economic Consequences of Hedge Fund Activist Interventions,” Review of Accounting Studies 24(2): 536–569.
Demsetz, Harold (1995), The Economics of the Business Firm: Seven Critical Commentaries. Cambridge University Press.
Denes, Matthew R., Karpoff, Jonathan M. and McWilliams, Victoria B. (2017), “Thirty Years of Shareholder Activism: A Survey of Empirical Research,” Journal of Corporate Finance 44: 405–424.
Department of the Treasury, Board of Governors of the Federal Reserve System, Securities and Exchange Commission, Commodity Futures Trading Commission (1999), “Hedge Funds, Leverage, and the Lessons of Long-Term Capital Management,” Report of the President’s Working Group on Financial Markets, www.cftc.gov/sites/default/files/tm/tmhedgefundreport.htm. Drucker, Peter (1976), The Unseen Revolution: How Pension Fund Socialism Came to America, Harper & Row.
Edwards, Franklin R. (1999), “Hedge Funds and the Collapse of Long-Term Capital Management,” Journal of Economic Perspectives 13(2): 189–210.
Fama, Eugene F. (1980), “Agency Problems and the Theory of the Firm,” Journal of Political Economy 88(2).
Fama, Eugene F. and Jensen, Michael (1983), “Separation of Ownership and Control,” Journal of Law & Economics 26(2).
Gelter, Martin (2013), “The Pension System and the Rise of Shareholder Primacy,” Seton Hall Law Review 43(3): 909–970.
Gillan, Stuart and Starks, Laura T. (2007), “The Evolution of Shareholder Activism in the United States,” Journal of Applied Corporate Finance 19(1): 55–73.
Hansmann, Henry and Kraakman, Reinier (2000), “The Essential Role of Organizational Law.” Yale Law Journal 110.
Iliev, Peter and Lowry, Michelle (2015), “Are Mutual Funds Active Voters?” Review of Financial Studies 28(2): 446–485.
Jensen, Michael (1986), “Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers,” American Economic Review 76(2): 323–329.
Jensen, Michael (1988), “Takeovers: The Causes and Consequences,” Journal of Economic Perspective 2(1).
Jensen, Michael (1989), “Eclipse of the Public Corporation,” Harvard Business Review 67(5): 61–74.
Jensen, Michael (1993), “The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems,” Journal of Finance 48(3): 831–880.
Jensen, Michael and Murphy, Kevin (1990), “Performance Pay and Top Management Incentives,” Journal of Political Economy 98(2): 225–264.
Michael, Jensen and Meckling, William H. (1976), “Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure,” Journal of Financial Economics 3(4): 305–360.
Karpoff, Jonathan M. (2001), “The Impact of Shareholder Activism on Target Companies: A Survey of Empirical Findings,” SSRN Electronic Journal, https://doi.org/10.2139/ssrn.885365. Klein, William A. and Coffee, John C. (2004) (9th ed.). Business Organization and Finance: Legal and Economic Principles. Thomson Reuters/Foundation Press
Laster, Travis J. and Mark Zeberkiewicz, John, (2014), “The Rights and Duties of Blockholder Directors,” The Business Lawyer 70(1): 33–60.
Lazonick, William (1991), Business Organization and the Myth of the Market Economy, Cambridge University Press.
Lazonick, William (1992), “Controlling the Market for Corporate Control.” Industrial and Corporate Change 1(3).
Lazonick, William (2007), “The U.S. Stock Market and the Governance of Innovative Enterprise,” Industrial and Corporate Change 16(6): 1021–1022.
Lazonick, William (2013), “The Financialization of the US Corporation: What Has Been Lost, and How It Can Be Regained,” Seattle University Law Review 36(2): 857–909.
Lazonick, William (2014a), “Innovative Enterprise and Shareholder Value,” Law and Financial Markets Review 8(1): 52–64.
Lazonick, William (2014b), “Profits without Prosperity: Stock Buybacks Manipulate the Market and Leave Most Americans Worse Off,” Harvard Business Review, September: 46–55.
Lazonick, William (2015), “The Theory of Innovative Enterprise: Foundation of Economic Analysis,” Academic-Industry Research Working Paper #13–0201.
Lazonick, William (2019), “The Value-Extracting CEO: How Executive Stock-Based Pay Undermines Investment in Productive Capabilities,” Structural Change and Economic Dynamics 60.
Lazonick, William (2022), “Is the Most Unproductive Firm the Foundation of the Most Efficient Economy? Penrosian Learning and the Neoclassical Fallacy,” International Review of Applied Economics, 36(2): 1–32. And Lazonick “Corporate Governance for the Common Good.”
Lazonick, William (2023), Investing in Innovation: Confronting Predatory Value Extraction in the US Corporation, Cambridge University Press.
Lazonick, William and Jang-Sup Shin, (2020), Predatory Value Extraction: How the Looting of the Business Enterprise Became the US Norm and How Sustainable Prosperity Can Be Restored, Oxford University Press.
Lazonick, William and O’Sullivan, Mary (1997), “Finance and Industrial Development, Part I: The United States and the United Kingdom,” Financial History Review 4(1): 7–29.
Lazonick, William and O’Sullivan, Mary (2000), “American Corporate Finance,” in Howes, Candace and Singh, Ajit (eds.), Competitiveness Matters, Michigan University Press.
Lever, Annabelle (2010), “Compulsory Voting: A Critical Perspective,” British Journal of Political Science 40(4): 897–915.
Lowenstein, Roger (2002), When Genius Failed: The Rise and Fall of Long-Term Capital Management, Random House.
Lu, Carmen X. W., (2016), “Unpacking Wolf Packs,” Yale Law Journal 125(3).
Lund, Dorothy S. (2018), “The Case against Passive Shareholder Voting,” Journal of Corporation Law 43(3).
Machan, Dyan and Atlas, Riva (1994), “George Soros, Meet A.W. Jones,” Forbes, p. 43.
Manconi, Alberto, Peyer, Urs and Vermaelen, Theo (2018), “Are Buybacks Good for Long-Term Shareholder Value? Evidence from Buybacks around the World,” Journal of Financial and Quantitative Analysis 54(5): 1–74.
McGrattan, Ellen R. and Prescott, Edward C. (2004), “The 1929 Stock Market: Irving Fischer Was Right,” International Economic Review 45(4).
Merced, Michael (2016), “Samsung in Cross Hairs of American Hedge Fund,” New York Times, http://nyti.ms/2dxarIk. Mirae Asset (2017), “The Current State and Direction of Samsung Electronics’ Stock Buybacks,” Mirae Asset Daily Report, September 15 (in Korean).
Nathan, Charles (2010), The Parallel Universes of Institutional Investing and Institutional Voting, Institutional Investors.
Ott, Julia C. (2011), When Wall Street Met Main Street: The Quest for Investors’ Democracy, Harvard University Press.
Perino, Michael (2010), The Hellhound of Wall Street: How Ferdinand Pecora’s Investigation of the Great Crash Forever Changed American Finance, Penguin Press.
Pichhadze, Aviv (2010), “Private Equity, Ownership, and Regulation,” The Journal of Private Equity 14(1): 17–24.
Pichhadze, Aviv (2012), “Institutional Investors as Blockholders,” in Vasudev, P.M. and Watson, Susan (eds.), Corporate Governance after the Financial Crisis, Edgar Elgar.
Robé, Jean-Philippe (2011), “The Legal Structure of the Firm,” Accounting, Economics, and Law: A Convivium 1(1).
Roe, Mark J. (1990), “Political and Legal Restraints on Ownership and Control of Public Companies,” Journal of Financial Economics 27(1).
Roe, Mark J. (1991), “Political Elements in the Creation of Mutual Fund Industry,” University of Pennsylvania Law Review 139(6).
Romano, Roberta (1993), “Public Pension Fund Activism in Corporate Governance Reconsidered,” Columbia Law Review 93(4): 793–853.
Rose, Paul (2007), “The Corporate Governance Industry,” The Journal of Corporation Law 32(4): 887–926.
Rosenberg, Hilary (1999), A Traitor to His Class, John Wiley.
Securities and Exchange Commission (1992), “Final Proxy Rule Amendments, Exchange Act,” Federal Securities Law Reporter 34–31326.
Securities and Exchange Commission (2000), “Final Rule: Selective Disclosure and Insider Trading,” U.S. Securities and Exchange Commission, www.sec.gov/rules/final/33-7881.htm. Sharara, Norma M. and Hoke-Witherspoon, Anne E. (1993), “The Evolution of the 1992 Shareholder Communication Proxy Rules and Their Impact on Corporate Governance,” The Business Lawyer 49(1): 327–358.
Singh, Shane P. (2015), “Compulsory Voting and the Turnout Decision Calculus,” Political Studies 63(3): 548–568.
Smith, Michael P. (1996), “Shareholder Activism by Institutional Investors: Evidence from CalPERS,” The Journal of Finance 51(1): 227–252.
Strickland, Deon, Wiles, Kenneth and Zenner, Marc (1996), “A Requiem for the USA – Is Small Shareholder Monitoring Effective?” Journal of Financial Economics 40(2): 319–338.
Strine, Jr, Leo E. (2005), “The Delaware Way: How We Do Corporate Law and Some of the New Challenges We (and Europe) Face,” Delaware Journal of Corporate Law 30(3): 673–696.
Strine, Jr Leo E. (2007), “Toward Common Sense and Common Ground? – Reflections on the Shared Interests of Managers and Labor in a More Rational System of Corporate Governance,” Harvard Law and Economics Discussion Paper No. 585.
Stulz, René M. (2007), “Hedge Funds: Past, Present, and Future,” The Journal of Economic Perspectives 21(2): 175–194.
U.S. Senate Committee on Banking and Currency (2009), The Pecora Report: The 1934 Report on the Practices of Stock Exchanges from the Pecora Commission, CreateSpace Independent Publishing Platform.
Veasey, E. Norman (1993), “The Emergence of Corporate Governance as a New Legal Discipline,” The Business Lawyer 48(4).
Ventoruzzo, Marco (2015), “The Disappearing Taboo of Multiple Voting Shares: Regulatory Responses to the Migration of Chrysler-Fiat,” Bocconi Legal Studies Research Paper No. 2574236, https://ssrn.com/abstract=2574236. Volacu, Alexandru (2020), “Democracy and Compulsory Voting,” Political Research Quarterly 473(2): 454–463.
Walker, Owen (2016), Barbarians in the Boardroom: Activist Investors and the Battle for Control of the World’s Most Powerful Companies, Pearson Education.
Walters, Dan (1988), “War of Succession for California’s Bond Empire,” The Wall Street Journal, March 2.