Martin C. Schmalz

CEPR

London

United Kingdom

University of Oxford - Finance

United States

CESifo

Poschinger Str. 5

Munich, DE-81679

Germany

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

  • CEPR

  • University of Oxford - Finance

  • CESifo

  • European Corporate Governance Institute (ECGI)

SCHOLARLY PAPERS

53

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752

Scholarly Papers (53)

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1.

Anticompetitive Effects of Common Ownership

Journal of Finance, 73(4), 2018
Number of pages: 79 Posted: 22 Apr 2014 Last Revised: 13 May 2018
José Azar, Martin C. Schmalz, Martin C. Schmalz and Isabel Tecu
University of Navarra, IESE Business School, CEPRUniversity of Oxford - Finance and Charles River Associates (CRA)
Downloads 18,726 (409)
Citation 50

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Competition, Ownership, Diversification, Pricing, Antitrust, Governance, Product Market

2.

Payout Policy

Downloads 4,465 ( 1,259)
Citation 18

Payout Policy

Ross School of Business Paper No. 1227
Number of pages: 119 Posted: 25 Feb 2014 Last Revised: 27 Dec 2021
Joan Farre-Mensa, Roni Michaely, Martin C. Schmalz and Martin C. Schmalz
University of Illinois at Chicago - Department of Finance, The University of Hong Kong and CEPRUniversity of Oxford - Finance
Downloads 4,465 (4,756)
Citation 18

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Payout Policy; Survey; Dividends; Share Repurchases

Payout Policy

Annual Review of Financial Economics, Vol. 6, pp. 75-134, 2014
Posted: 25 Nov 2014
Joan Farre-Mensa, Roni Michaely, Martin C. Schmalz and Martin C. Schmalz
University of Illinois at Chicago - Department of Finance, The University of Hong Kong and CEPRUniversity of Oxford - Finance

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3.

Common Ownership, Competition, and Top Management Incentives

Downloads 9,449 ( 1,336)
Citation 112

Common Ownership, Competition, and Top Management Incentives

Journal of Political Economy, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 511/2017
Number of pages: 113 Posted: 03 Jul 2016 Last Revised: 19 Aug 2022
Miguel Anton, Florian Ederer, Mireia Gine, Martin C. Schmalz and Martin C. Schmalz
University of Navarra, IESE Business School, Boston University - Markets, Public Policy, and Law, IESE Business School, University of Navarra and CEPRUniversity of Oxford - Finance
Downloads 8,699 (1,542)
Citation 74

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Common ownership, competition, managerial incentives, productivity, corporate governance, antitrust

Common Ownership, Competition, and Top Management Incentives

CESifo Working Paper Series No. 6178
Number of pages: 86 Posted: 14 Oct 2020
Miguel Anton, Florian Ederer, Mireia Gine, Martin C. Schmalz and Martin C. Schmalz
University of Navarra, IESE Business School, Boston University - Markets, Public Policy, and Law, IESE Business School, University of Navarra and CEPRUniversity of Oxford - Finance
Downloads 720 (76,179)

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common ownership, competition, CEO pay, management incentives, governance

Common Ownership, Competition, and Top Management Incentives

NBER Working Paper No. w30785
Number of pages: 65 Posted: 26 Dec 2022 Last Revised: 29 May 2023
Miguel Anton, Florian Ederer, Mireia Gine, Martin C. Schmalz and Martin C. Schmalz
University of Navarra, IESE Business School, Boston University - Markets, Public Policy, and Law, IESE Business School, University of Navarra and CEPRUniversity of Oxford - Finance
Downloads 24 (1,135,978)
Citation 38

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Common Ownership, Competition, and Top Management Incentives

CEPR Discussion Paper No. DP12674
Number of pages: 56 Posted: 05 Feb 2018 Last Revised: 11 Jun 2018
Miguel Anton, Florian Ederer, Mireia Gine, Martin C. Schmalz and Martin C. Schmalz
University of Navarra, IESE Business School, Boston University - Markets, Public Policy, and Law, IESE Business School, University of Navarra and CEPRUniversity of Oxford - Finance
Downloads 6 (1,355,500)
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CEO pay, Common ownership, Competition, corporate governance, management incentives

4.

Ultimate Ownership and Bank Competition

Number of pages: 87 Posted: 03 Jan 2016 Last Revised: 08 May 2019
José Azar, Sahil Raina, Martin C. Schmalz and Martin C. Schmalz
University of Navarra, IESE Business School, University of Alberta - School of Business and CEPRUniversity of Oxford - Finance
Downloads 6,069 (2,854)
Citation 84

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Competition, Ownership, Diversification, Pricing, Antitrust, Governance, Product Market, Bank Competition

5.

Financing Payouts

Journal of Financial and Quantitative Analysis, Forthcoming
Number of pages: 82 Posted: 09 Dec 2014 Last Revised: 26 Apr 2024
Joan Farre-Mensa, Roni Michaely, Martin C. Schmalz and Martin C. Schmalz
University of Illinois at Chicago - Department of Finance, The University of Hong Kong and CEPRUniversity of Oxford - Finance
Downloads 4,330 (5,101)
Citation 9

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Payout policy, financing decisions, debt issues, capital structure, cash management.

6.

Common-Ownership Concentration and Corporate Conduct

Downloads 3,181 ( 8,440)
Citation 67

Common-Ownership Concentration and Corporate Conduct

Annual Review of Financial Economics, Vol. 10, December 2018, CESifo Working Paper Series No. 6908
Number of pages: 40 Posted: 05 Oct 2017 Last Revised: 18 May 2018
Martin C. Schmalz and Martin C. Schmalz
CEPRUniversity of Oxford - Finance
Downloads 3,179 (8,296)
Citation 1

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ownership, control, network, industry concentration, antitrust, objective of the firm, shareholder unanimity

Common Ownership Concentration and Corporate Conduct

CEPR Discussion Paper No. DP12598
Number of pages: 34 Posted: 22 Jan 2018
Martin C. Schmalz and Martin C. Schmalz
CEPRUniversity of Oxford - Finance
Downloads 2 (1,381,601)
Citation 66
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Antitrust, control, industry concentration, network, objective of the firm, ownership, shareholder unanimity

Common-Ownership Concentration and Corporate Conduct

Annual Review of Financial Economics, Vol. 10, pp. 413-448, 2018
Posted: 08 Nov 2018
Martin C. Schmalz and Martin C. Schmalz
CEPRUniversity of Oxford - Finance

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7.

Innovation: The Bright Side of Common Ownership?

Downloads 2,809 (10,191)
Citation 12

Innovation: The Bright Side of Common Ownership?

European Corporate Governance Institute – Finance Working Paper No. 965/2024
Number of pages: 64 Posted: 16 Jan 2018 Last Revised: 04 Mar 2024
Miguel Anton, Florian Ederer, Mireia Gine, Martin C. Schmalz and Martin C. Schmalz
University of Navarra, IESE Business School, Boston University - Markets, Public Policy, and Law, IESE Business School, University of Navarra and CEPRUniversity of Oxford - Finance
Downloads 2,792 (10,106)
Citation 12

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common ownership, competition, innovation, R&D

Innovation: The Bright Side of Common Ownership?

NBER Working Paper No. w32192
Number of pages: 59 Posted: 05 Mar 2024
Miguel Anton, Florian Ederer, Mireia Giné, Martin C. Schmalz and Martin C. Schmalz
University of Navarra, IESE Business School, Boston University - Markets, Public Policy, and Law, University of Navarra, IESE Business School and CEPRUniversity of Oxford - Finance
Downloads 17 (1,230,062)
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8.

(Why) Do Central Banks Care about Their Profits?

Downloads 2,230 (14,784)
Citation 33

(Why) Do Central Banks Care about Their Profits?

Journal of Finance, Forthcoming
Number of pages: 90 Posted: 05 Jun 2017 Last Revised: 15 Dec 2021
Igor Goncharov, Vasso Ioannidou, Martin C. Schmalz and Martin C. Schmalz
Lancaster University - Department of Accounting and Finance, Bayes Business School (formerly Cass)Centre for Economic Policy Research (CEPR) and CEPRUniversity of Oxford - Finance
Downloads 2,092 (16,098)
Citation 33

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Central Banks, Profitability, Non-Traditional Central Banking, Monetary Stability

(Why) Do Central Banks Care About Their Profits?

CESifo Working Paper Series No. 6546
Number of pages: 63 Posted: 24 Jul 2017
Igor Goncharov, Vasso Ioannidou, Martin C. Schmalz and Martin C. Schmalz
Lancaster University - Department of Accounting and Finance, Bayes Business School (formerly Cass)Centre for Economic Policy Research (CEPR) and CEPRUniversity of Oxford - Finance
Downloads 138 (450,857)

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central banks, profitability, non-traditional central banking, monetary stability

9.

Do Index Funds Benefit Investors?

Number of pages: 53 Posted: 03 Jan 2023 Last Revised: 14 May 2024
Martin C. Schmalz, Martin C. Schmalz and William R. Zame
CEPRUniversity of Oxford - Finance and University of California, Los Angeles (UCLA) - Department of Economics
Downloads 2,027 (17,271)

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portfolio choice, asset pricing, ownership, indexing, inequality, household finance

10.

Mavericks, Universal, and Common Owners - The Largest Shareholders of U.S. Public Firms

Downloads 1,541 (21,834)
Citation 4

Mavericks, Universal, and Common Owners - The Largest Shareholders of U.S. Public Firms

European Corporate Governance Institute – Finance Working Paper No. 838/2022
Number of pages: 66 Posted: 13 Apr 2022 Last Revised: 03 Oct 2022
Amir Amel-Zadeh, Fiona Kasperk, Martin C. Schmalz and Martin C. Schmalz
University of Oxford - Said Business School, University of Oxford - Said Business School and CEPRUniversity of Oxford - Finance
Downloads 1,541 (25,974)
Citation 4

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universal ownership, common ownership, institutional ownership, blockholders, insiders, antitrust, governance

11.

Unionization, Cash, and Leverage

Downloads 1,434 (29,411)
Citation 6

Unionization, Cash, and Leverage

Ross School of Business Paper No. 1215
Number of pages: 46 Posted: 20 Apr 2013 Last Revised: 19 Nov 2016
Martin C. Schmalz and Martin C. Schmalz
CEPRUniversity of Oxford - Finance
Downloads 1,427 (29,086)
Citation 6

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Capital Structure, Cash, Risk Management, Labor Adjustment Costs, Unionization, Regression Discontinuity

Unionization, Cash, and Leverage

CEPR Discussion Paper No. DP12595
Number of pages: 49 Posted: 22 Jan 2018
Martin C. Schmalz and Martin C. Schmalz
CEPRUniversity of Oxford - Finance
Downloads 7 (1,347,594)
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Capital Structure, cash, Labor Adjustment Costs, Regression Discontinuity, Risk management, Unionization

12.

Fund Flows and Market States

Review of Financial Studies, 2017, DOI:10.1093/rfs/hhx015
Number of pages: 82 Posted: 13 May 2013 Last Revised: 19 Jun 2017
Francesco A. Franzoni, Martin C. Schmalz and Martin C. Schmalz
Universita della Svizzera Italiana (USI Lugano) and CEPRUniversity of Oxford - Finance
Downloads 1,246 (36,164)
Citation 46

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Bayesian learning, parameter uncertainty, mutual funds, flow-performance, Kalman filter, beta

13.

Reply to: 'Common Ownership Does Not Have Anti-Competitive Effects in the Airline Industry'

Number of pages: 12 Posted: 10 May 2018
José Azar, Martin C. Schmalz, Martin C. Schmalz and Isabel Tecu
University of Navarra, IESE Business School, CEPRUniversity of Oxford - Finance and Charles River Associates (CRA)
Downloads 1,226 (36,967)
Citation 6

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Competition, Ownership, Diversification, Pricing, Antitrust, Governance, Product Market

14.

Can Changes in the Cost of Carry Explain the Dynamics of Corporate 'Cash' Holdings?

Review of Financial Studies, April 2016, Ross School of Business Working Paper No. 1216
Number of pages: 55 Posted: 14 Dec 2013 Last Revised: 30 Sep 2017
José Azar, Jean-François Kagy, Martin C. Schmalz and Martin C. Schmalz
University of Navarra, IESE Business School, Cornerstone Research, Inc. and CEPRUniversity of Oxford - Finance
Downloads 1,177 (39,255)
Citation 56

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corporate cash, cash hoarding, money demand

15.

The Competitive Effects of Common Ownership: Economic Foundations and Empirical Evidence: Reply

Number of pages: 8 Posted: 30 Sep 2017 Last Revised: 27 Sep 2018
José Azar, Martin C. Schmalz, Martin C. Schmalz and Isabel Tecu
University of Navarra, IESE Business School, CEPRUniversity of Oxford - Finance and Charles River Associates (CRA)
Downloads 1,041 (46,826)
Citation 16

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Competition, Ownership, Diversification, Pricing, Antitrust, Governance, Product Market

16.

Recent Studies on Common Ownership, Firm Behavior, and Market Outcomes

Martin C. Schmalz, Recent studies on common ownership, firm behavior, and market outcomes, Antitrust Bulletin 66 (1), 2021
Number of pages: 56 Posted: 12 Feb 2021
Martin C. Schmalz and Martin C. Schmalz
CEPRUniversity of Oxford - Finance
Downloads 1,029 (47,611)
Citation 31

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ownership, control, industry concentration, antitrust, competition, managerial incentives, corporate governance

17.

Horizon-Dependent Risk Aversion and the Timing and Pricing of Uncertainty

FRB of New York Staff Report No. 703. Rev. January 2024
Number of pages: 96 Posted: 09 Dec 2014 Last Revised: 10 Jun 2024
Marianne Andries, Thomas M. Eisenbach, Martin C. Schmalz and Martin C. Schmalz
University of Southern California, Federal Reserve Banks - Federal Reserve Bank of New York and CEPRUniversity of Oxford - Finance
Downloads 973 (51,536)
Citation 19

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risk aversion, early resolution, term structure, volatility risk

18.

Revealing Downturns

Downloads 812 (66,040)
Citation 2

Revealing Downturns

Number of pages: 51 Posted: 17 Nov 2012 Last Revised: 16 Jan 2018
Martin C. Schmalz, Martin C. Schmalz and Sergey Zhuk
CEPRUniversity of Oxford - Finance and affiliation not provided to SSRN
Downloads 689 (80,611)
Citation 2

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Learning, Asymmetry, Business Cycle, Earnings Response

Revealing Downturns

CESifo Working Paper Series No. 6879
Number of pages: 53 Posted: 03 Apr 2018
Martin C. Schmalz, Martin C. Schmalz and Sergey Zhuk
CEPRUniversity of Oxford - Finance and affiliation not provided to SSRN
Downloads 123 (495,404)

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financial economics, finance

19.

Common Ownership and Competition: Facts, Misconceptions, and What to Do About It - Background paper for OECD Hearing on Common Ownership by Institutional Investors and Its Impact on Competition

DAF/COMP/WD(2017)93
Number of pages: 16 Posted: 25 May 2018
Martin C. Schmalz and Martin C. Schmalz
CEPRUniversity of Oxford - Finance
Downloads 800 (67,333)
Citation 5

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Competition, Ownership, Diversification, Pricing, Antitrust, Governance, Product Market

20.

Housing Collateral and Entrepreneurship

Downloads 774 (70,335)
Citation 129

Housing Collateral and Entrepreneurship

Journal of Finance, Forthcoming
Number of pages: 36 Posted: 22 Dec 2014 Last Revised: 20 Nov 2015
Martin C. Schmalz, Martin C. Schmalz, David Alexandre Sraer and David Thesmar
CEPRUniversity of Oxford - Finance, University of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 673 (83,102)
Citation 1

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Collateral; Entrepreneurship; Real estate

Housing Collateral and Entrepreneurship

NBER Working Paper No. w19680
Number of pages: 44 Posted: 28 Nov 2013 Last Revised: 10 Apr 2023
Martin C. Schmalz, Martin C. Schmalz, David Alexandre Sraer and David Thesmar
CEPRUniversity of Oxford - Finance, University of California, Berkeley and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 101 (576,530)
Citation 128

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21.

Anxiety in the Face of Risk

FRB of New York Staff Report No. 610
Number of pages: 35 Posted: 03 Apr 2013 Last Revised: 28 Oct 2015
Thomas M. Eisenbach, Martin C. Schmalz and Martin C. Schmalz
Federal Reserve Banks - Federal Reserve Bank of New York and CEPRUniversity of Oxford - Finance
Downloads 764 (71,557)
Citation 19

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risk premia, insurance, term structure, dynamic inconsistency

22.

Why Common Ownership Creates Antitrust Risks

CPI Antitrust Chronicle June 2017
Number of pages: 8 Posted: 20 Jun 2017
José Azar, Martin C. Schmalz, Martin C. Schmalz and Isabel Tecu
University of Navarra, IESE Business School, CEPRUniversity of Oxford - Finance and Charles River Associates (CRA)
Downloads 726 (76,550)

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Competition, Ownership, Pricing, Antitrust, Governance, Product Market

23.

Anxiety and Pro-cyclical Risk Taking with Bayesian Agents

FRB of New York Staff Report No. 711
Number of pages: 37 Posted: 21 Feb 2015 Last Revised: 23 Jan 2019
Thomas M. Eisenbach, Martin C. Schmalz and Martin C. Schmalz
Federal Reserve Banks - Federal Reserve Bank of New York and CEPRUniversity of Oxford - Finance
Downloads 687 (82,116)
Citation 3

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overconfidence, dynamic inconsistency, biases, deception, risk taking

24.

Internet Appendix for: 'Anticompetitive Effects of Common Ownership'

Journal of Finance, Vol. 73, No. 4, 2018
Number of pages: 25 Posted: 23 May 2018
José Azar, Martin C. Schmalz, Martin C. Schmalz and Isabel Tecu
University of Navarra, IESE Business School, CEPRUniversity of Oxford - Finance and Charles River Associates (CRA)
Downloads 595 (98,648)
Citation 1

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Competition, Ownership, Diversification, Pricing, Antitrust, Governance, Product Market

25.

Pooling and Tranching under Belief Disagreement

Downloads 551 (108,689)

Pooling and Tranching under Belief Disagreement

Number of pages: 49 Posted: 06 Jun 2015 Last Revised: 10 Jul 2019
Juan Ortner, Martin C. Schmalz and Martin C. Schmalz
Boston University and CEPRUniversity of Oxford - Finance
Downloads 439 (141,616)

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Disagreement, Security Design, Optimism, Overconfidence, Pooling, Tranching, Behavioral Finance

Disagreement and Optimal Security Design

CESifo Working Paper Series No. 6906
Number of pages: 49 Posted: 20 Apr 2018
Juan Ortner, Martin C. Schmalz and Martin C. Schmalz
Boston University and CEPRUniversity of Oxford - Finance
Downloads 112 (533,038)

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disagreement, security design, optimism, overconfidence, pooling, behavioral finance

26.

The Term Structure of the Price of Variance Risk

FRB of New York Staff Report No. 736, Rev. January 2025
Number of pages: 34 Posted: 07 Aug 2015 Last Revised: 21 Jan 2025
Marianne Andries, Thomas M. Eisenbach, R. Jay Kahn, Martin C. Schmalz and Martin C. Schmalz
University of Southern California, Federal Reserve Banks - Federal Reserve Bank of New York, Board of Governors of the Federal Reserve System and CEPRUniversity of Oxford - Finance
Downloads 546 (110,230)
Citation 6

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volatility risk, option returns, term structure

27.

A Refutation of 'Common Ownership Does Not Have Anti-Competitive Effects in the Airline Industry'

European Corporate Governance Institute – Finance Working Paper No. 837/2022
Number of pages: 19 Posted: 27 Jul 2022 Last Revised: 19 Aug 2022
José Azar, Martin C. Schmalz, Martin C. Schmalz and Isabel Tecu
University of Navarra, IESE Business School, CEPRUniversity of Oxford - Finance and Charles River Associates (CRA)
Downloads 474 (130,641)
Citation 3

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Competition, Ownership, Diversification, Pricing, Antitrust, Governance, Product Market

28.

Market-Based Incentives for Optimal Audit Quality

Number of pages: 40 Posted: 15 Nov 2024 Last Revised: 21 Dec 2024
Andrew Acito, Amir Amel-Zadeh, James Anderson, William L. Anderson, Daniel Aobdia, Francois Brochet, Huaizhi Chen, Jonathan Fluharty-Jaidee, Martin C. Schmalz, Martin C. Schmalz, Manyun Tang, Scott J. Wang, Joshua T. White, Thomas Bourveau and William R. Zame
Virginia Tech - Department of Accounting and Information Systems, University of Oxford - Said Business School, Saginaw Valley State University - College of Business and Management, Independent, Pennsylvania State University - Smeal College of Business, Boston University - Questrom School of Business, University of Notre Dame - Department of Finance, Public Company Accounting Oversight Board, CEPRUniversity of Oxford - Finance, University of Oxford - Said Business School, Pennsylvania State University - Penn State, Vanderbilt University - Finance, Columbia University and University of California, Los Angeles (UCLA) - Department of Economics
Downloads 421 (150,389)

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Audit Quality, Audit Regulation, Event Study, Abnormal Returns, Inspection Report JEL Classification: M41, M42, M48, G18, G14

29.

Conceptual Breakthroughs on Common Ownership and Competition: A Framework For Evaluating Policy

Number of pages: 34 Posted: 24 Mar 2022 Last Revised: 04 Apr 2022
Martin C. Schmalz and Martin C. Schmalz
CEPRUniversity of Oxford - Finance
Downloads 399 (159,805)

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ownership, control, industry concentration, antitrust, competition, managerial incentives, corporate governance

30.

Research on the Competitive Consequences of Common Ownership: A Methodological Critique

Number of pages: 12 Posted: 11 Jan 2021
José Azar, Martin C. Schmalz, Martin C. Schmalz and Isabel Tecu
University of Navarra, IESE Business School, CEPRUniversity of Oxford - Finance and Charles River Associates (CRA)
Downloads 357 (180,943)
Citation 2

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Competition, Ownership, Diversification, Pricing, Antitrust, Governance, Product Market

31.

Diversification vs. Monopolization: A Laboratory Experiment

Number of pages: 62 Posted: 27 Dec 2022 Last Revised: 01 Oct 2024
Jonas Frey, Axel Ockenfels, Martin C. Schmalz and Martin C. Schmalz
University of Gothenburg - Department of Economics and Statistics, Max Planck Institute for Research on Collective Goods and CEPRUniversity of Oxford - Finance
Downloads 351 (184,295)

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diversification, common ownership, agency, executive compensation, experimental corporate governance

32.

Do Corporations Maximize their Own Value?

Number of pages: 71 Posted: 03 Oct 2022 Last Revised: 02 Aug 2023
Martin C. Schmalz, Martin C. Schmalz and Jin Xie
CEPRUniversity of Oxford - Finance and Peking University HSBC Business School
Downloads 309 (211,539)

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ownership, corporate objective, corporate governance

33.

Do the Big Three Vote to Curb Climate Change?

Number of pages: 39 Posted: 24 Oct 2022
Marie Briere, Sebastien Pouget, Martin C. Schmalz, Martin C. Schmalz and Loredana Ureche-Rangau
Amundi Asset Management, Toulouse School of Economics, CEPRUniversity of Oxford - Finance and Université de Picardie Jules Verne, LEFMI
Downloads 252 (261,216)

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climate change, shareholder voting, universal investors, delegated philantropy

34.

Common Ownership and Relative Performance Evaluation

Number of pages: 72 Posted: 25 Jul 2022
Miguel Anton, Florian Ederer, Mireia Gine, Martin C. Schmalz and Martin C. Schmalz
University of Navarra, IESE Business School, Boston University - Markets, Public Policy, and Law, IESE Business School, University of Navarra and CEPRUniversity of Oxford - Finance
Downloads 248 (265,399)
Citation 2

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common ownership, competition, managerial incentives, corporate governance, antitrust

35.

Inequality and Market Concentration, when Shareholding is More Skewed than Consumption

CAMA Working Paper No. 62/2018
Number of pages: 17 Posted: 14 Dec 2018
Joshua Gans, Andrew Leigh, Martin C. Schmalz, Martin C. Schmalz and Adam Triggs
University of Toronto - Rotman School of Management, Australian House of Representatives Parliament House, CEPRUniversity of Oxford - Finance and Australian National University (ANU) - Crawford School of Public Policy
Downloads 224 (293,115)
Citation 1

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Monopoly, market power, inequality

36.

Common Ownership Theories, Governance ‘Mechanisms’ & Policy (Presentation Slides)

Number of pages: 30 Posted: 02 Dec 2019
Martin C. Schmalz and Martin C. Schmalz
CEPRUniversity of Oxford - Finance
Downloads 210 (311,734)

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ownership, control, network, industry concentration, antitrust, objective of the firm, shareholder unanimity

37.

Common Ownership, Incentives & Productivity

HKU Jockey Club Enterprise Sustainability Global Research Institute - Archive
Number of pages: 65 Posted: 02 Oct 2024 Last Revised: 18 Dec 2024
Fiona Kasperk, Amir Amel-Zadeh, Martin C. Schmalz and Martin C. Schmalz
University of Oxford - Said Business School, University of Oxford - Said Business School and CEPRUniversity of Oxford - Finance
Downloads 194 (338,905)

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corporate governance, common ownership, incentives, total factor productivity

38.

Empirical Studies of Common Ownership-Effects on Product Markets & Innovation (Presentation Slides)

Number of pages: 17 Posted: 27 Nov 2019
Martin C. Schmalz and Martin C. Schmalz
CEPRUniversity of Oxford - Finance
Downloads 175 (368,532)

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ownership, control, network, industry concentration, antitrust, objective of the firm, shareholder unanimity

39.

Talent "Pipeline," Audit Quality, and Other Research Topics of Interest

Number of pages: 19 Posted: 26 Jun 2024
Martin C. Schmalz and Martin C. Schmalz
CEPRUniversity of Oxford - Finance
Downloads 161 (396,391)
Citation 1

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accounting, accountant labor market

40.

Proposed Changes to the Merger Guidelines’ Approach to Common Ownership

Number of pages: 6 Posted: 20 Jun 2022
Martin C. Schmalz and Martin C. Schmalz
CEPRUniversity of Oxford - Finance
Downloads 160 (398,547)

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common ownership, competition, governance, antitrust policy, regulation

41.

Delegated Philanthropy in Mutual Fund Votes on Climate Change Externalities

ISTE SCIENCE PUBLISHING LTD, May 2022
Number of pages: 27 Posted: 22 Jun 2022
Marie Briere, Sebastien Pouget, Martin C. Schmalz, Martin C. Schmalz and Loredana Ureche-Rangau
Amundi Asset Management, Toulouse School of Economics, CEPRUniversity of Oxford - Finance and Université de Picardie Jules Verne, LEFMI
Downloads 145 (432,350)

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Climate change externalities, Delegated philantropy, Mutual Fund Families, Voting

42.

Letter to the Australian Parliament - Inquiry into the implications of common ownership and capital concentration in Australia

Submissions to Australian Parliament's Standing Committee on Economics
Number of pages: 18 Posted: 20 Sep 2021
Martin C. Schmalz, Martin C. Schmalz and Thomas Reyntjens
CEPRUniversity of Oxford - Finance and University of Oxford
Downloads 133 (463,522)

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ownership, common ownership, control, industry concentration, capital concentration, antitrust, competition

43.

Inequality and Market Concentration, When Shareholding is More Skewed than Consumption

Number of pages: 15 Posted: 02 Jan 2019
Joshua S. Gans, Andrew Leigh, Martin C. Schmalz, Martin C. Schmalz and Adam Triggs
University of Toronto - Rotman School of Management, Australian House of Representatives Parliament House, CEPRUniversity of Oxford - Finance and Australian National University (ANU) - Crawford School of Public Policy
Downloads 114 (522,484)

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monopoly, market power, inequality

44.

Inequality and Market Concentration, When Shareholding is More Skewed than Consumption

NBER Working Paper No. w25395
Number of pages: 16 Posted: 26 Dec 2018 Last Revised: 22 May 2023
Joshua S. Gans, Andrew Leigh, Martin C. Schmalz, Martin C. Schmalz and Adam Triggs
University of Toronto - Rotman School of Management, Australian House of Representatives Parliament House, CEPRUniversity of Oxford - Finance and Australian National University (ANU)
Downloads 83 (646,621)
Citation 6

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45.

What can an audit regulator do to improve welfare?

Number of pages: 35 Posted: 18 Apr 2024
Martin C. Schmalz, Martin C. Schmalz and William R. Zame
CEPRUniversity of Oxford - Finance and University of California, Los Angeles (UCLA) - Department of Economics
Downloads 79 (665,379)

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auditing, regulation, misstatement, fraud, restatement

46.

Inequality and Market Concentration, When Shareholding is More Skewed than Consumption

CESifo Working Paper No. 7402
Number of pages: 17 Posted: 21 Feb 2019
Joshua S. Gans, Andrew Leigh, Martin C. Schmalz, Martin C. Schmalz and Adam Triggs
University of Toronto - Rotman School of Management, Australian House of Representatives Parliament House, CEPRUniversity of Oxford - Finance and Australian National University (ANU)
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monopoly, market power, inequality

47.

Online Appendix to 'Revealing Downturns'

Number of pages: 29 Posted: 07 Jul 2017 Last Revised: 19 May 2018
Martin C. Schmalz, Martin C. Schmalz and Sergey Zhuk
CEPRUniversity of Oxford - Finance and affiliation not provided to SSRN
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48.

Inequality and Market Concentration, When Shareholding is More Skewed than Consumption

IZA Discussion Paper No. 12034
Number of pages: 17 Posted: 23 Jan 2019 Last Revised: 16 Sep 2022
Joshua S. Gans, Andrew Leigh, Martin C. Schmalz, Martin C. Schmalz and Adam Triggs
University of Toronto - Rotman School of Management, Australian House of Representatives Parliament House, CEPRUniversity of Oxford - Finance and Australian National University (ANU)
Downloads 68 (723,234)
Citation 1

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monopoly, market power, inequality

49.

Disagreement and Security Design

CEPR Discussion Paper No. DP12596
Number of pages: 50 Posted: 22 Jan 2018
Juan Ortner, Martin C. Schmalz and Martin C. Schmalz
Boston University and CEPRUniversity of Oxford - Finance
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behavioral finance, disagreement, Optimism, overconfidence, pooling, security design, tranching

50.

Revealing Downturns

CEPR Discussion Paper No. DP12597
Number of pages: 54 Posted: 22 Jan 2018
Martin C. Schmalz, Martin C. Schmalz and Sergey Zhuk
CEPRUniversity of Oxford - Finance and affiliation not provided to SSRN
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Citation 2
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Asymmetry, Bayesian Learning, Business cycle, Earnings Response

51.

Direct Lending: Evidence from European and U.S. Markets

Journal of Alternative Investments, Forthcoming
Posted: 16 Sep 2021 Last Revised: 26 Apr 2022
Laura Fritsch, Wayne Lim, Alexander Montag, Martin C. Schmalz and Martin C. Schmalz
University of Oxford - Said Business School, Harvard University, Indiana University and CEPRUniversity of Oxford - Finance

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Private Debt; Direct Lending, Banking Regulation, Non-bank Lending, Private Markets, Private Equity, Lending, Alternative Assets

52.

Relative Performance Provisions and Competitive Incentives

Posted: 30 Oct 2018
Martin C. Schmalz and Martin C. Schmalz
CEPRUniversity of Oxford - Finance

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compensation, incentives, common ownership, competition, relative performance, antitrust

53.

Common Ownership and Fiduciary Duty

Posted: 08 Oct 2018
Martin C. Schmalz and Martin C. Schmalz
CEPRUniversity of Oxford - Finance

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fiduciary duty, diversification, profit maximization, shareholder value