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Sources of value gains in minority equity investments by private equity funds : evidence from block share acquisitions
Using block share acquisitions made by private equity (PE) funds, we examine the sources of value gains in PE minority equity investments. We find that compared with non-PE acquirers, PE acquirers are more likely to place ...
Are institutional investors with multiple blockholdings effective monitors?
We examine whether institutions’ monitoring effectiveness is related to the number of their blockholdings. We find that the number of blocks that a firm's large institutions hold is positively associated with forced chief ...