Corporate Governance Implications of the Growth in Indexing

Alon Brav, Nadya Malenko and Andrey Malenko

No 30718, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Passively managed funds have grown to become some of the largest shareholders in publicly traded companies, but there is considerable debate about the effects of this growth on corporate governance. The goal of this paper is to review the literature on the governance implications of passive fund growth and discuss directions for future research. In particular, we present a framework to understand the incentives of passive and actively managed funds to engage in governance, review the empirical evidence in the context of this framework, and highlight the questions that remain unanswered.

JEL-codes: G23 G32 G34 (search for similar items in EconPapers)
Date: 2022-12
New Economics Papers: this item is included in nep-cfn
Note: CF LE
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Working Paper: Corporate Governance Implications of the Growth in Indexing (2022)
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