Originality/Value of paper – We develop a theoretical framework to explain the absence of activism of institutional investors integrated in financial conglomerates in the governance of listed firms.
Alves, C. and Mendes, V. (2011), "Do Financial Conglomerates have an Incentive to Prevent Managers of other Firms from Pursuing their Own Interest?", Boubakri, N. and Cosset, J.-C. (Ed.) Institutional Investors in Global Capital Markets (International Finance Review, Vol. 12), Emerald Group Publishing Limited, Bingley, pp. 187-204. https://doi.org/10.1108/S1569-3767(2011)0000012010
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