Mireia Giné
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View article: Innovation: The Bright Side of Common Ownership?
Innovation: The Bright Side of Common Ownership? Open
Firms have inefficiently low incentives to innovate when other firms benefit from their inventions and the innovating firm therefore does not capture the full surplus of its innovations.We show that common ownership of firms mitigates this…
View article: Replication Data for: "Common Ownership, Competition, and Top Management Incentives"
Replication Data for: "Common Ownership, Competition, and Top Management Incentives" Open
This is the replication package for "Common Ownership, Competition, and Top Management Incentives," accepted in 2022 by the Journal of Political Economy.
View article: Price and Probability: Decomposing the Takeover Effects of Anti‐Takeover Provisions
Price and Probability: Decomposing the Takeover Effects of Anti‐Takeover Provisions Open
We study the effects of anti‐takeover provisions (ATPs) on the takeover probability, the takeover premium, and target selection. Voting to remove an ATP increases both the takeover probability and the takeover premium, that is, there is no…
View article: Say Pays! Shareholder Voice and Firm Performance
Say Pays! Shareholder Voice and Firm Performance Open
This article estimates the effects of Say-on-Pay (SoP), a policy that increases shareholder “voice” by providing shareholders with a regular vote on executive pay. We apply a regression discontinuity design to the votes on shareholder-spon…
View article: The Uneasy Case for Favoring Long-Term Shareholders
The Uneasy Case for Favoring Long-Term Shareholders Open
This Article challenges a persistent and pervasive view in corporate law and corporate governance: that a firm’s managers should favor long-term shareholders over short-term shareholders, and maximize long-term shareholders’ returns rather…