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

  • Boston College - Department of Finance

    • Email
    • Tel: 617-552-2768
    • Fax: 617-277-8071
SCHOLARLY PAPERS

27

DOWNLOADS
Rank 2,566

SSRN RANKINGS

Top 2,566

in Total Papers Downloads

13,485

CITATIONS
Rank 2,429

SSRN RANKINGS

Top 2,429

in Total Papers Citations

198

Scholarly Papers (27)

Actions:
Email selected abstracts
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 2,856 (3,884)
Citation 132

Abstract:

Loading...

Large-block shareholders, corporate control

2.

Blockholders: A Survey of Theory and Evidence

Downloads 2,271 ( 5,709)
Citation 24

Blockholders: A Survey of Theory and Evidence

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 475/2016
Number of pages: 127 Posted: 13 Aug 2016 Last Revised: 08 Jul 2019
Alex Edmans and Clifford G. Holderness
London Business School - Institute of Finance and Accounting and Boston College - Department of Finance
Downloads 2,269 (5,611)
Citation 28

Abstract:

Loading...

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 (661,029)
  • Add to Cart

Abstract:

Loading...

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

3.

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 1,529 (11,055)
Citation 27

Abstract:

Loading...

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

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, Harvard Business School and Simon School, University of Rochester (Deceased)
Downloads 1,105 (18,373)

Abstract:

Loading...

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

5.

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 866 (26,267)
Citation 62

Abstract:

Loading...

G32, G34

6.

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
Harvard Business School, Simon School, University of Rochester (Deceased) and Boston College - Department of Finance
Downloads 862 (26,442)
Citation 2

Abstract:

Loading...

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

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 858 (26,620)
Citation 140

Abstract:

Loading...

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 582 (45,065)
Citation 7

Abstract:

Loading...

9.

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 475 (58,349)
Citation 7

Abstract:

Loading...

Ownership Concentration, Legal Origins, Investor Protections

10.

Dividends and Corporate Shareholders

Downloads 427 ( 66,401)
Citation 23

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 427 (65,765)
Citation 23

Abstract:

Loading...

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:

Loading...

G30, G32, G35

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
Harvard Business School, Simon School, University of Rochester (Deceased) and Boston College - Department of Finance
Downloads 336 (87,916)

Abstract:

Loading...

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 254 (118,786)
Citation 6

Abstract:

Loading...

13.

Equity Issuances and Agency Costs: The Telling Story of Shareholder Approval Around the World

Number of pages: 81 Posted: 21 Jul 2017
Clifford G. Holderness
Boston College - Department of Finance
Downloads 230 (131,247)
Citation 12

Abstract:

Loading...

Equity Issuances, Seasoned Equity Offerings (SEOs), Agency Costs, Mandatory Shareholder Voting, Corporate Governance

14.

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 196 (152,832)
Citation 8

Abstract:

Loading...

rights offering, shareholder heterogeneity, wealth transfers

15.

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
Harvard Business School, Sloan School of Management, MIT (Deceased) and Boston College - Department of Finance
Downloads 188 (158,712)

Abstract:

Loading...

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

16.

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 172 (171,900)

Abstract:

Loading...

Hierarchy, centralization, decentralization, markets

17.

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 135 (210,258)

Abstract:

Loading...

18.

Constraints on Large-Block Shareholders

NBER Working Paper No. w6765
Number of pages: 43 Posted: 19 Dec 1998 Last Revised: 10 Oct 2010
Clifford G. Holderness and Dennis P. Sheehan
Boston College - Department of Finance and Pennsylvania State University
Downloads 81 (299,155)
Citation 7

Abstract:

Loading...

19.

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

Downloads 57 (361,214)

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 Last Revised: 10 Apr 2008
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 57 (366,570)
Citation 3

Abstract:

Loading...

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:

Loading...

20.

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 (613,096)
Citation 1
  • Add to Cart

Abstract:

Loading...

21.

The Effect of Shareholder Approval of Equity Issuances Around the World

Journal of Applied Corporate Finance, Vol. 31, Issue 1, pp. 23-41, 2019
Number of pages: 21 Posted: 14 May 2019
Clifford G. Holderness
Boston College - Department of Finance
Downloads 1 (643,651)
  • Add to Cart

Abstract:

Loading...

22.

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:

Loading...

Aggregation Bias, Law and Finance, Ownership Concentration

23.

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:

Loading...

Law and Finance, Ownership Concentration, Investors' Legal Protections

24.

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:

Loading...

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

25.

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:

Loading...

G32, G34

26.

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:

Loading...

27.

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

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

Abstract:

Loading...