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https://hdl.handle.net/20.500.12202/6504Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.contributor.author | Ravid, S. Abraham | |
| dc.contributor.author | Sekerci, Naciye | |
| dc.date.accessioned | 2020-12-09T15:50:54Z | |
| dc.date.available | 2020-12-09T15:50:54Z | |
| dc.date.issued | 2020-04 | |
| dc.identifier.citation | S. Abraham Ravid, Naciye Sekerci, Large investors’ portfolio composition and firms value, Journal of Corporate Finance, Volume 61, 2020, 101404, | en_US |
| dc.identifier.issn | ISSN 0929-1199, | |
| dc.identifier.uri | https://doi.org/10.1016/j.jcorpfin.2018.08.015 | en_US |
| dc.identifier.uri | https://hdl.handle.net/20.500.12202/6504 | |
| dc.description | Research article / open-access | en_US |
| dc.description.abstract | We analyze new Swedish data on the portfolio holdings of large blockholders and find that firm value increases with the weight of a stock in a large blockholder's portfolio. In our sample, this weight may be greater than 50%. We are the first to show that this value premium is correlated with portfolio weights for any large blockholders, not just institutions. We find some evidence that indicates that “stock importance” (high portfolio weight) can mitigate the negative effects of a dual-class structure on firm value. Further, it does not seem that a large blockholder's tenure as a CEO or as a board chairman affects this value premium. We conduct a variety of tests to rule out endogeneity and reverse causality. | en_US |
| dc.language.iso | en_US | en_US |
| dc.relation.ispartofseries | Journal of Corporate Finance;61 | |
| dc.rights | Attribution-NonCommercial-NoDerivs 3.0 United States | * |
| dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/3.0/us/ | * |
| dc.subject | Stock importance | en_US |
| dc.subject | Portfolio composition | en_US |
| dc.subject | Blockholders | en_US |
| dc.subject | Dual-class shares | en_US |
| dc.title | Large investors’ portfolio composition and firms value. | en_US |
| dc.type | Article | en_US |
| dc.contributor.orcid | 0000-0002-5557-789X | |
| local.yu.facultypage | https://www.yu.edu/faculty/pages/ravid-s-abraham | |
| Appears in Collections: | Sy Syms School of Business (SSSB) -- Faculty Publications | |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| Ravid Sekerci Large investors 2020 1-s2.0-S0929119918301639-main.pdf | 297.3 kB | Adobe PDF |  View/Open |
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