Corporate Governance Implications of the Growth in Indexing

Alon Brav, Andrey Malenko and Nadya Malenko

No 17732, CEPR Discussion Papers from C.E.P.R. Discussion Papers

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 G34 K22 (search for similar items in EconPapers)
Date: 2022-12
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Working Paper: Corporate Governance Implications of the Growth in Indexing (2022)
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