{"id":"https://openalex.org/W2983178325","doi":"https://doi.org/10.1111/1475-679x.12297","title":"Contracts Between Firms and Shareholders","display_name":"Contracts Between Firms and Shareholders","publication_year":2020,"publication_date":"2020-01-13","ids":{"openalex":"https://openalex.org/W2983178325","doi":"https://doi.org/10.1111/1475-679x.12297","mag":"2983178325"},"language":"en","primary_location":{"id":"doi:10.1111/1475-679x.12297","doi":"https://doi.org/10.1111/1475-679x.12297","is_oa":false,"landing_page_url":"https://doi.org/10.1111/1475-679x.12297","pdf_url":null,"source":{"id":"https://openalex.org/S111116695","display_name":"Journal of Accounting Research","issn_l":"0021-8456","issn":["0021-8456","1475-679X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Accounting Research","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID3046182_code1695805.pdf?abstractid=3046182&mirid=1&type=2","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5042868249","display_name":"Jordan Schoenfeld","orcid":"https://orcid.org/0000-0002-5842-4370","observed_orcids":["https://orcid.org/0000-0002-5842-4370"]},"institutions":[{"id":"https://openalex.org/I107672454","display_name":"Dartmouth College","ror":"https://ror.org/049s0rh22","country_code":"US","type":"education","lineage":["https://openalex.org/I107672454"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"JORDAN SCHOENFELD","raw_affiliation_strings":["Dartmouth College","Dartmouth College - Tuck School of Business"],"raw_orcid":"https://orcid.org/0000-0002-5842-4370","affiliations":[{"raw_affiliation_string":"Dartmouth College","institution_ids":["https://openalex.org/I107672454"]},{"raw_affiliation_string":"Dartmouth College - Tuck School of Business","institution_ids":["https://openalex.org/I107672454"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5042868249"],"corresponding_institution_ids":["https://openalex.org/I107672454"],"apc_list":{"value":3500,"currency":"USD","value_usd":3500},"apc_paid":null,"fwci":6.9767,"has_fulltext":false,"cited_by_count":28,"citation_normalized_percentile":{"value":0.96424457,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":98},"biblio":{"volume":"58","issue":"2","first_page":"383","last_page":"427"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9955999851226807,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9955999851226807,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.002899999963119626,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.0003000000142492354,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/activist-investors","display_name":"activist investors","score":0.6259999871253967},{"id":"https://openalex.org/keywords/information-asymmetry","display_name":"information asymmetry","score":0.9300000071525574},{"id":"https://openalex.org/keywords/corporate-governance","display_name":"corporate governance","score":0.6129999756813049}],"concepts":[{"id":"https://openalex.org/C120757647","wikidata":"https://www.wikidata.org/wiki/Q381136","display_name":"Shareholder","level":3,"score":0.7819653749465942},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.7127293348312378},{"id":"https://openalex.org/C137577040","wikidata":"https://www.wikidata.org/wiki/Q431965","display_name":"Information asymmetry","level":2,"score":0.6400241255760193},{"id":"https://openalex.org/C116168712","wikidata":"https://www.wikidata.org/wiki/Q181201","display_name":"Dividend","level":2,"score":0.6312144994735718},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.4838213324546814},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.46027871966362},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.44995102286338806},{"id":"https://openalex.org/C136800757","wikidata":"https://www.wikidata.org/wiki/Q6335929","display_name":"Covenant","level":2,"score":0.446564257144928},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.2693347930908203},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C27206212","wikidata":"https://www.wikidata.org/wiki/Q34178","display_name":"Theology","level":1,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1111/1475-679x.12297","doi":"https://doi.org/10.1111/1475-679x.12297","is_oa":false,"landing_page_url":"https://doi.org/10.1111/1475-679x.12297","pdf_url":null,"source":{"id":"https://openalex.org/S111116695","display_name":"Journal of Accounting Research","issn_l":"0021-8456","issn":["0021-8456","1475-679X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Accounting Research","raw_type":"journal-article"},{"id":"mag:2983178325","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID3046182_code1695805.pdf?abstractid=3046182&mirid=1&type=2","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null}],"best_oa_location":{"id":"mag:2983178325","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID3046182_code1695805.pdf?abstractid=3046182&mirid=1&type=2","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"display_name":"Partnerships for the goals","id":"https://metadata.un.org/sdg/17","score":0.44999998807907104}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":156,"referenced_works":["https://openalex.org/W40198218","https://openalex.org/W119367497","https://openalex.org/W201438956","https://openalex.org/W259850181","https://openalex.org/W1494030762","https://openalex.org/W1494703832","https://openalex.org/W1515531634","https://openalex.org/W1524082215","https://openalex.org/W1530514562","https://openalex.org/W1550913661","https://openalex.org/W1565325499","https://openalex.org/W1566344170","https://openalex.org/W1579112106","https://openalex.org/W1867747628","https://openalex.org/W1872731380","https://openalex.org/W1893787175","https://openalex.org/W1966989567","https://openalex.org/W1970144470","https://openalex.org/W1972382157","https://openalex.org/W1972422263","https://openalex.org/W1978044529","https://openalex.org/W1983888044","https://openalex.org/W1985445641","https://openalex.org/W1991699420","https://openalex.org/W1993556822","https://openalex.org/W2002440447","https://openalex.org/W2003729121","https://openalex.org/W2015255255","https://openalex.org/W2015925498","https://openalex.org/W2017979058","https://openalex.org/W2038527526","https://openalex.org/W2040407204","https://openalex.org/W2044161527","https://openalex.org/W2047453708","https://openalex.org/W2047647742","https://openalex.org/W2051140949","https://openalex.org/W2056621186","https://openalex.org/W2058576880","https://openalex.org/W2063503639","https://openalex.org/W2068235652","https://openalex.org/W2071128202","https://openalex.org/W2078030625","https://openalex.org/W2080394736","https://openalex.org/W2087110418","https://openalex.org/W2088782463","https://openalex.org/W2096862200","https://openalex.org/W2098861776","https://openalex.org/W2104914558","https://openalex.org/W2106386024","https://openalex.org/W2106622011","https://openalex.org/W2107735123","https://openalex.org/W2109341202","https://openalex.org/W2111116457","https://openalex.org/W2112100352","https://openalex.org/W2115883214","https://openalex.org/W2116955982","https://openalex.org/W2117455041","https://openalex.org/W2121782145","https://openalex.org/W2122529435","https://openalex.org/W2123376250","https://openalex.org/W2124041433","https://openalex.org/W2130145608","https://openalex.org/W2131538393","https://openalex.org/W2131740028","https://openalex.org/W2133670123","https://openalex.org/W2135241016","https://openalex.org/W2148216163","https://openalex.org/W2148393335","https://openalex.org/W2151624457","https://openalex.org/W2153401855","https://openalex.org/W2153970426","https://openalex.org/W2154060107","https://openalex.org/W2154185621","https://openalex.org/W2155522260","https://openalex.org/W2159182030","https://openalex.org/W2159776227","https://openalex.org/W2160860931","https://openalex.org/W2162012454","https://openalex.org/W2165944181","https://openalex.org/W2166053178","https://openalex.org/W2171247542","https://openalex.org/W2180343340","https://openalex.org/W2187771588","https://openalex.org/W2316509495","https://openalex.org/W2319854370","https://openalex.org/W2340485753","https://openalex.org/W2471008204","https://openalex.org/W2510383779","https://openalex.org/W2580010294","https://openalex.org/W2584044203","https://openalex.org/W2618783086","https://openalex.org/W2710242558","https://openalex.org/W2729570016","https://openalex.org/W2749749198","https://openalex.org/W2751820958","https://openalex.org/W2752617332","https://openalex.org/W2766577219","https://openalex.org/W2768336671","https://openalex.org/W2891717843","https://openalex.org/W2892883354","https://openalex.org/W2913527708","https://openalex.org/W2945804486","https://openalex.org/W2960790809","https://openalex.org/W3003883893","https://openalex.org/W3022527834","https://openalex.org/W3121345957","https://openalex.org/W3121479022","https://openalex.org/W3121522673","https://openalex.org/W3121531922","https://openalex.org/W3121620836","https://openalex.org/W3121693921","https://openalex.org/W3121759882","https://openalex.org/W3121797308","https://openalex.org/W3121850914","https://openalex.org/W3122000986","https://openalex.org/W3122258293","https://openalex.org/W3122300128","https://openalex.org/W3122302359","https://openalex.org/W3122622096","https://openalex.org/W3122685541","https://openalex.org/W3122720032","https://openalex.org/W3122731611","https://openalex.org/W3122827868","https://openalex.org/W3122839526","https://openalex.org/W3122853031","https://openalex.org/W3122904176","https://openalex.org/W3122929324","https://openalex.org/W3123062155","https://openalex.org/W3123077827","https://openalex.org/W3123162571","https://openalex.org/W3123197736","https://openalex.org/W3123529549","https://openalex.org/W3123597007","https://openalex.org/W3123806795","https://openalex.org/W3123853992","https://openalex.org/W3124020223","https://openalex.org/W3124108878","https://openalex.org/W3124173461","https://openalex.org/W3124226448","https://openalex.org/W3124253171","https://openalex.org/W3124269021","https://openalex.org/W3124423437","https://openalex.org/W3124671214","https://openalex.org/W3124704118","https://openalex.org/W3124716433","https://openalex.org/W3124730380","https://openalex.org/W3124747412","https://openalex.org/W3125046747","https://openalex.org/W3125210356","https://openalex.org/W3125354808","https://openalex.org/W3125705127","https://openalex.org/W3125829376","https://openalex.org/W3125975775","https://openalex.org/W3125982850","https://openalex.org/W3149901755","https://openalex.org/W4232286240"],"related_works":["https://openalex.org/W3011672444","https://openalex.org/W3121352963","https://openalex.org/W2462688980","https://openalex.org/W4411701023","https://openalex.org/W3211696244","https://openalex.org/W3147724143","https://openalex.org/W4393845576","https://openalex.org/W3019391722","https://openalex.org/W3123346796","https://openalex.org/W118404190"],"abstract_inverted_index":{"ABSTRACT":[0],"Theory":[1],"predicts":[2],"the":[3,69,81,105],"existence":[4],"of":[5,22,68,76,83,92,104],"explicit":[6,110],"bilateral":[7,111],"contracts":[8,36,85,112],"between":[9,95,113],"firms":[10,114],"and":[11,16,41,44,60,79,97,115],"expert":[12],"shareholders.":[13,98,116],"I":[14,32,63],"assemble":[15],"analyze":[17],"a":[18],"large\u2010scale":[19],"data":[20],"set":[21],"these":[23,35,84],"contracts.":[24],"Using":[25],"block":[26],"investments":[27],"from":[28],"1996":[29],"to":[30,49],"2018,":[31],"find":[33,65],"that":[34,66,80],"involve":[37],"mainly":[38],"corporate":[39,56],"owners":[40],"activist":[42],"owners,":[43],"often":[45],"specify":[46],"covenants":[47,71],"pertaining":[48],"financing,":[50],"trading,":[51],"directorships,":[52],"dividends,":[53],"joint":[54],"ventures,":[55],"investment,":[57],"financial":[58],"reporting,":[59],"information":[61,93],"access.":[62],"also":[64],"some":[67,103],"contract":[70],"are":[72],"stated":[73],"in":[74],"terms":[75],"accounting":[77],"information,":[78],"prevalence":[82],"is":[86],"significantly":[87],"positively":[88],"associated":[89],"with":[90],"measures":[91],"asymmetry":[94],"managers":[96],"Overall,":[99],"this":[100],"study":[101],"provides":[102],"first":[106],"systematic":[107],"evidence":[108],"on":[109]},"counts_by_year":[{"year":2026,"cited_by_count":3},{"year":2025,"cited_by_count":3},{"year":2024,"cited_by_count":3},{"year":2023,"cited_by_count":2},{"year":2022,"cited_by_count":5},{"year":2021,"cited_by_count":3},{"year":2020,"cited_by_count":5},{"year":2019,"cited_by_count":1},{"year":2018,"cited_by_count":1},{"year":2017,"cited_by_count":2}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2019-11-22T00:00:00"}