Book chapters
Year
2000
Abstract
Whereas maximum portfolio diversification prevails when managers’ and shareholders’ information is identical, this is no longer true in the presence of an agency problem between managers and shareholders. In this case, large shareholders’ activism may enhance the value of the firm. Pension funds may play this role.
BURKART, O. et CHARLETY-LEPERS, P. (2000). Les fonds de pension et le rôle des actionnaires importants dans le gouvernement d’entreprise. Dans: Fonds de pension. Aspects économiques et financiers. 1st ed. Economica, pp. 155-183.