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Cited by 451

The DOI matches its Crossref record; 50 of the 50 references it cites were found in a registry or an index.

Large Shareholders and Corporate Policies

Open access
Cronqvist, Henrik, Fahlenbrach, Rüdiger·2009·Review of Financial Studies
DOI 10.1093/rfs/hhn093
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Abstract

We analyze the effects of heterogeneity across large shareholders, using a new blockholder-firm panel dataset in which we can track all unique blockholders among large public firms in the United States. We find statistically significant and economically important blockholder fixed effects in investment, financial, and executive compensation policies. We also find blockholder fixed effects in firm performance measures, and differences in corporate policies are systematically related to differences in firm performance. We study potential sources of the heterogeneity and find that blockholders with a larger block size, board membership, direct management involvement, or with a single decision maker are associated with larger effects on corporate policies and firm performance.

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Metadata

Authors
Cronqvist, H., & Fahlenbrach, R.
Venue
Review of Financial Studies
Publisher
Oxford University Press (OUP)
Published
2008-10-29
Volume
22
Issue
10
Pages
3941-3976
ISSN
  • 0893-9454 (ISSN-L)
  • 1465-7368
DOI
10.1093/rfs/hhn093
OpenAlex
W2172187031
Cited by
451
References
50
FWCI
69.11
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: Large Shareholders and Corporate Policies. https://app.cochat.ai/papers/10.1093/rfs/hhn093
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Cronqvist, H., & Fahlenbrach, R. (2009). Large Shareholders and Corporate Policies. Review of Financial Studies. https://doi.org/10.1093/rfs/hhn093

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.