Active ownership

Abstract

active ownership elroy dimson university of cambridge and london business school oğuzhan karakaş boston college xi li* temple university this version: 7 august 2015 * we are grateful to the berkeley-haas center for responsible business for awarding us the moskowitz prize for research in socially responsible investing. we benefitted from comments by the editor (laura starks), the referee, andrew ang, brad barber, sudipta basu, rob bauer, alon brav, david chambers, alexis cheang, bhagwan chowdhry, gordon clarke, francesca cornelli, amil dasgupta, alberta di giuli, alex edmans, otgo erhemjamts, julian franks, william goetzmann, john griswold, denis gromb, harrison hong, ioannis ioannou, robert jenkins, andrew karolyi, simi kedia, april klein, idar kreutzer, philipp krüger, lloyd kurtz, rob lake, laura lindsey, karina litvack, paul marsh, jun qian, karthik ramanna, raghavendra rau, pietra rivoli, catherine schrand, rik sen, henri servaes, andrei shleifer, hege sjo, martin skancke, suraj srinivasan, mike staunton, avanidhar subrahmanyam, i̇rem tuna, roger urwin, ross watts, and workshop participants at bentley university, boston college, cambridge university, koç university, norges bank, southwestern university of finance and economics at chengdu, and temple university. we also benefitted from comments by participants at the asset management conference at london business school, charity finance group conference in london, conference on inclusive capitalism in london, conference …

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