Maekyoung Economy Daily Newspaper– While the world is in the process of innovation competition, it is said that South Korea is glad that it has participated in this competition. It is at the Academy of Mangement (AOM), which is being held in Chicago, USA, from the 10th.
(Use Google Chrome for option to translate article)
Professor Emeritus Gary Powell will be recognized by the Family Firm Institute as the recipient of a 2018 Academic and Family Business Review Award at a global conference in London in October. Continue Reading
My San Antonio– Purdue Pharma announced Tuesday a corporate turnaround specialist as its new board chairman and also changed its top lawyer, marking the latest in a series of organizational shifts for the embattled maker of the OxyContin opioid.
Hartford Business Journal– Government officials in a number of Connecticut cities and towns have long wanted to broaden access to faster internet speeds to spur economic development and make their local communities more attractive places to live and work.
Harvard Law School Forum on Corporate Governance and Financial Regulation– In common ownership, the type of the common owner institution matters. Institutional ownership of firms has seen a marked rise in the past few decades, with average institutional ownership share of a firm rising from 20% to 30% in the 1980s to over 65% of the total by the 2010s, with residual retail ownership correspondingly falling from 80% to less than 35% of the firm. (See Borochin, Paul, and Jie Yang (2017). The Effects of Institutional Investor Objectives on Firm Valuation and Governance, Journal of Financial Economics 126.) Over the same period, the fraction of the average firm held by institutions holding blocks of same-industry rivals has risen from 4.5% to 28%. (See He, Jie, J. Huang, 2017, Product Market Competition in a World of Cross Ownership: Evidence from Institutional Blockholdings, The Review of Financial Studies 30.) This not only changes the portfolio properties of the institutional investors, but also has the potential to change the corporate strategies of held firms. Recent studies find opposing effects of common institutional ownership on the competitive behavior of firms: