Clifford G. Holderness

Boston College - Department of Finance

Professor of Finance

Carroll School of Management

140 Commonwealth Avenue

Chestnut Hill, MA 02467-3808

United States

View CV
SCHOLARLY PAPERS

25

DOWNLOADS
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SSRN RANKINGS

Top 2,487

in Total Papers Downloads

11,471

CITATIONS
Rank 1,147

SSRN RANKINGS

Top 1,147

in Total Papers Citations

474

Scholarly Papers (25)

1.

A Survey of Blockholders and Corporate Control

Economic Policy Review, Vol. 9, No. 1, April 2003
Number of pages: 14 Posted: 07 Sep 2001
Clifford G. Holderness
Boston College - Department of Finance
Downloads 2,117 (3,648)
Citation 107

Abstract:

Large-block shareholders, corporate control

2.

The Block Pricing Puzzle

Simon School of Business Working Paper No. FR 01-05
Number of pages: 46 Posted: 09 Apr 2001
Michael J. Barclay, Clifford G. Holderness and Dennis P. Sheehan
University of Rochester - Simon School (Deceased), Boston College - Department of Finance and Pennsylvania State University
Downloads 1,422 (9,049)
Citation 22

Abstract:

Negotiated block trades, private placements, block pricing, discounts, premiums

3.
Downloads 1,166 ( 13,331)
Citation 2

Blockholders: A Survey of Theory and Evidence

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 475/2016
Number of pages: 121 Posted: 13 Aug 2016 Last Revised: 12 Mar 2017
Alex Edmans and Clifford G. Holderness
London Business School - Institute of Finance and Accounting and Boston College - Department of Finance
Downloads 1,164 (13,108)
Citation 2

Abstract:

Large shareholders, blockholders, governance, voice, activism, exit, microstructure, property rights

Blockholders: A Survey of Theory and Evidence

CEPR Discussion Paper No. DP11442
Number of pages: 102 Posted: 22 Aug 2016
Alex Edmans and Clifford G. Holderness
London Business School - Institute of Finance and Accounting and Boston College - Department of Finance
Downloads 2 (554,355)
Citation 2

Abstract:

activism, blockholders, exit, governance, Large shareholders, microstructure, property rights., voice

4.

The Logic of the First Amendment

Harvard Business School NOM Unit Working Paper No. 00-01
Number of pages: 40 Posted: 05 Mar 2000 Last Revised: 17 Jan 2011
Clifford G. Holderness, Michael C. Jensen and William H. Meckling
Boston College - Department of Finance, SSRN and Simon School, University of Rochester (Deceased)
Downloads 1,052 (14,992)
Citation 1

Abstract:

Freedom, First Amendment, property rights, externality, physical incompatibility, scarce rights, non-scarce rights, constitutional law

5.

Analysis of Alternative Standing Doctrines

International Review of Law and Economics, Vol. 6, 1986, Harvard Business School NOM Unit Working Paper No. 1986
Number of pages: 22 Posted: 17 Aug 2000 Last Revised: 17 Jan 2011
Michael C. Jensen, William H. Meckling and Clifford G. Holderness
SSRN, Simon School, University of Rochester (Deceased) and Boston College - Department of Finance
Downloads 827 (21,758)
Citation 3

Abstract:

standing, legal doctrine, U.S. Supreme Court, rights, efficiency, transaction costs, alienability

6.

Private Placements and Managerial Entrenchment

Journal of Corporate Finance, Forthcoming, AFA 2004 San Diego Meetings Paper
Number of pages: 45 Posted: 29 Nov 2003
Michael J. Barclay, Clifford G. Holderness and Dennis P. Sheehan
University of Rochester - Simon School (Deceased), Boston College - Department of Finance and Pennsylvania State University
Downloads 790 (22,262)
Citation 39

Abstract:

G32, G34

7.

Myth of Diffuse Ownership in the United States

Review of Financial Studies, Forthcoming
Number of pages: 47 Posted: 06 Jun 2007
Clifford G. Holderness
Boston College - Department of Finance
Downloads 750 (23,121)
Citation 71

Abstract:

Ownership Concentration, Blockholders

8.

Dividends and Dominant Corporate Shareholders

AFA 2004 San Diego Meetings
Number of pages: 47 Posted: 29 Nov 2003
Michael J. Barclay, Clifford G. Holderness and Dennis P. Sheehan
University of Rochester - Simon School (Deceased), Boston College - Department of Finance and Pennsylvania State University
Downloads 563 (37,356)
Citation 20

Abstract:

9.
Downloads 411 ( 56,398)
Citation 17

Dividends and Corporate Shareholders

Review of Financial Studies, Forthcoming
Number of pages: 66 Posted: 05 Jun 2007
Michael J. Barclay, Clifford G. Holderness and Dennis P. Sheehan
University of Rochester - Simon School (Deceased), Boston College - Department of Finance and Pennsylvania State University
Downloads 411 (55,849)
Citation 17

Abstract:

Dividends, Corporate Blockholders, Taxes

Dividends and Corporate Shareholders

The Review of Financial Studies, Vol. 22, Issue 6, pp. 2423-2455, 2009
Posted: 01 Jun 2009
Michael J. Barclay, Clifford G. Holderness and Dennis P. Sheehan
University of Rochester - Simon School (Deceased), Boston College - Department of Finance and Pennsylvania State University

Abstract:

G30, G32, G35

10.

Do Differences in Legal Protections Explain Differences in Ownership Concentration?

Number of pages: 61 Posted: 10 Mar 2008
Clifford G. Holderness
Boston College - Department of Finance
Downloads 405 (51,181)
Citation 10

Abstract:

Ownership Concentration, Legal Origins, Investor Protections

11.

The Case for Restricting Access to Courts

MERC Working Paper No. 81-06, Harvard Business School NOM Unit Working Paper No. 1981
Number of pages: 40 Posted: 28 Dec 2004 Last Revised: 17 Jan 2011
Michael C. Jensen, William H. Meckling and Clifford G. Holderness
SSRN, Simon School, University of Rochester (Deceased) and Boston College - Department of Finance
Downloads 305 (76,479)

Abstract:

standing, stare decisis, res judicata, collateral estoppel, Coase Theorem, courts, legal system, efficiency, adjudication, rights, externalities

12.

Joint Ownership and Alienability

Number of pages: 34 Posted: 26 May 2000
Clifford G. Holderness
Boston College - Department of Finance
Downloads 241 (100,910)
Citation 5

Abstract:

13.

On the Conceptual Inadequacy of the Original Cost Regulatory System

Harvard NOM Working Paper
Number of pages: 16 Posted: 19 Oct 2005
Michael C. Jensen, Fischer Black and Clifford G. Holderness
SSRN, Sloan School of Management, MIT (Deceased) and Boston College - Department of Finance
Downloads 163 (140,925)

Abstract:

regulatory systems, inflation, interest rates, price index, market rate

14.

Hierarchies and the Survival of POWs during WWII

Management Science, Forthcoming
Number of pages: 32 Posted: 24 Feb 2009 Last Revised: 29 Aug 2012
Clifford G. Holderness and Jeffrey Pontiff
Boston College - Department of Finance and Boston College - Department of Finance
Downloads 137 (157,644)

Abstract:

Hierarchy, centralization, decentralization, markets

15.

Shareholder Nonparticipation in Valuable Rights Offerings

Number of pages: 41 Posted: 11 Nov 2012 Last Revised: 09 Jan 2013
Clifford G. Holderness and Jeffrey Pontiff
Boston College - Department of Finance and Boston College - Department of Finance
Downloads 133 (148,527)
Citation 1

Abstract:

rights offering, shareholder heterogeneity, wealth transfers

16.

Standing

New Palgrave Dictionary of Economics and the Law, 1999
Number of pages: 9 Posted: 11 Oct 1998
Clifford G. Holderness
Boston College - Department of Finance
Downloads 131 (176,890)

Abstract:

17.

Constraints on Large-Block Shareholders

NBER Working Paper No. w6765
Number of pages: 43 Posted: 19 Dec 1998
Clifford G. Holderness and Dennis P. Sheehan
Boston College - Department of Finance and Pennsylvania State University
Downloads 72 (254,279)
Citation 22

Abstract:

Were the Good Old Days that Good? Changes in Managerial Stock Ownership Since the Great Depression

NBER Working Paper No. w6550
Number of pages: 55 Posted: 10 Jun 2000
Clifford G. Holderness, Randall S. Kroszner and Dennis P. Sheehan
Boston College - Department of Finance, Booth School of Business, University of Chicago and Pennsylvania State University
Downloads 53 (318,738)
Citation 154

Abstract:

Were the Good Old Days that Good? Changes in Managerial Stock Ownership Since the Great Depression

Journal of Finance
Posted: 15 May 1998
Clifford G. Holderness, Randall S. Kroszner and Dennis P. Sheehan
Boston College - Department of Finance, Booth School of Business, University of Chicago and Pennsylvania State University

Abstract:

19.

Blockholders are More Common in the United States than You Might Think

Journal of Applied Corporate Finance, Vol. 22, Issue 4, pp. 75-85, 2010
Number of pages: 13 Posted: 03 Jan 2011
Clifford G. Holderness
Boston College - Department of Finance
Downloads 4 (516,992)

Abstract:

20.

Law and Ownership Reexamined

Critical Finance Review, Vol. 5, No. 1, 2016
Posted: 13 May 2016
Clifford G. Holderness
Boston College - Department of Finance

Abstract:

Law and Finance, Ownership Concentration, Investors' Legal Protections

21.

Problems Using Aggregate Data to Infer Individual Behavior: Evidence from Law, Finance, and Ownership Concentration

Critical Finance Review, Vol. 5, No. 1, 2016
Posted: 13 May 2016
Clifford G. Holderness
Boston College - Department of Finance

Abstract:

Aggregation Bias, Law and Finance, Ownership Concentration

22.

Culture and the Ownership Concentration of Public Corporations Around the World

Journal of Corporate Finance, Forthcoming
Posted: 16 Feb 2016
Clifford G. Holderness
Boston College - Department of Finance

Abstract:

Ownership concentration, Culture, Egalitarianism, Religion, Trust, Armen Alchian

23.

The Myth of Diffuse Ownership in the United States

The Review of Financial Studies, Vol. 22, Issue 4, pp. 1377-1408, 2009
Posted: 23 Mar 2009
Clifford G. Holderness
Boston College - Department of Finance

Abstract:

G32, G34

24.

Were the Good Old Days that Good?: Evolution of Corporate Ownership and Governance Since the Great Depression

Posted: 10 May 1998
Clifford G. Holderness, Randall S. Kroszner and Dennis P. Sheehan
Boston College - Department of Finance, Booth School of Business, University of Chicago and Pennsylvania State University

Abstract:

25.

The Entity Concept and Corporations: Preserving the Alienability of Collective Property

Posted: 14 Mar 1997
Clifford G. Holderness
Boston College - Department of Finance

Abstract: