{"id":"https://openalex.org/W4288976659","doi":"https://doi.org/10.2139/ssrn.3504424","title":"Index Funds and the Future of Corporate Governance: Theory, Evidence, and Policy","display_name":"Index Funds and the Future of Corporate Governance: Theory, Evidence, and Policy","publication_year":2019,"publication_date":"2019-01-01","ids":{"openalex":"https://openalex.org/W4288976659","doi":"https://doi.org/10.2139/ssrn.3504424"},"language":"en","primary_location":{"id":"doi:10.2139/ssrn.3504424","doi":"https://doi.org/10.2139/ssrn.3504424","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.3504424","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":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"SSRN Electronic Journal","raw_type":"journal-article"},"volume":null,"type":"preprint","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.2139/ssrn.3504424","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5109126440","display_name":"Lucian A. Bebchuk","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I136199984","display_name":"Harvard University","ror":"https://ror.org/03vek6s52","country_code":"US","type":"education","lineage":["https://openalex.org/I136199984"]},{"id":"https://openalex.org/I4210136188","display_name":"European Corporate Governance Institute","ror":"https://ror.org/04egehb02","country_code":"BE","type":"nonprofit","lineage":["https://openalex.org/I4210136188"]}],"countries":["BE","US"],"is_corresponding":true,"raw_author_name":"Lucian A. Bebchuk","raw_affiliation_strings":["European Corporate Governance Institute (ECGI), c/o the Royal Academies of Belgium, Rue Ducale 1 Hertogsstraat, 1000 Brussels, Belgium","Harvard Law School, Cambridge, MA 02138, United States","National Bureau of Economic Research (NBER), 1050 Massachusetts Avenue, Cambridge, MA 02138, United States","European Corporate Governance Institute (ECGI)","Harvard Law School","National Bureau of Economic Research (NBER)"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"European Corporate Governance Institute (ECGI), c/o the Royal Academies of Belgium, Rue Ducale 1 Hertogsstraat, 1000 Brussels, Belgium","institution_ids":["https://openalex.org/I4210136188"]},{"raw_affiliation_string":"Harvard Law School, Cambridge, MA 02138, United States","institution_ids":["https://openalex.org/I136199984"]},{"raw_affiliation_string":"National Bureau of Economic Research (NBER), 1050 Massachusetts Avenue, Cambridge, MA 02138, United States","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"European Corporate Governance Institute (ECGI)","institution_ids":["https://openalex.org/I4210136188"]},{"raw_affiliation_string":"Harvard Law School","institution_ids":["https://openalex.org/I136199984"]},{"raw_affiliation_string":"National Bureau of Economic Research (NBER)","institution_ids":["https://openalex.org/I1321305853"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5040852365","display_name":"Scott Hirst","orcid":"https://orcid.org/0000-0003-0437-9196","observed_orcids":["https://orcid.org/0000-0003-0437-9196"]},"institutions":[{"id":"https://openalex.org/I111088046","display_name":"Boston University","ror":"https://ror.org/05qwgg493","country_code":"US","type":"education","lineage":["https://openalex.org/I111088046"]},{"id":"https://openalex.org/I136199984","display_name":"Harvard University","ror":"https://ror.org/03vek6s52","country_code":"US","type":"education","lineage":["https://openalex.org/I136199984"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Scott Hirst","raw_affiliation_strings":["Boston University - School of Law, 765 Commonwealth Avenue, Boston, MA 02215, United States","Harvard Law School Program on Corporate Governance, 1575 Massachusetts, Hauser 406, Cambridge, MA 02138, United States","Boston University - School of Law","Harvard Law School Program on Corporate Governance"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Boston University - School of Law, 765 Commonwealth Avenue, Boston, MA 02215, United States","institution_ids":["https://openalex.org/I111088046"]},{"raw_affiliation_string":"Harvard Law School Program on Corporate Governance, 1575 Massachusetts, Hauser 406, Cambridge, MA 02138, United States","institution_ids":["https://openalex.org/I136199984"]},{"raw_affiliation_string":"Boston University - School of Law","institution_ids":["https://openalex.org/I111088046"]},{"raw_affiliation_string":"Harvard Law School Program on Corporate Governance","institution_ids":["https://openalex.org/I136199984"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":4,"corresponding_author_ids":["https://openalex.org/A5109126440"],"corresponding_institution_ids":["https://openalex.org/I1321305853","https://openalex.org/I136199984","https://openalex.org/I4210136188"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":161,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9916999936103821,"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"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9916999936103821,"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"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.005200000014156103,"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"}},{"id":"https://openalex.org/T13901","display_name":"State Capitalism and Financial Governance","score":0.0008999999845400453,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/index-funds","display_name":"index funds","score":0.8610000014305115},{"id":"https://openalex.org/keywords/shareholder-stewardship","display_name":"shareholder stewardship","score":0.8690000176429749},{"id":"https://openalex.org/keywords/corporate-governance","display_name":"corporate governance","score":0.9430000185966492},{"id":"https://openalex.org/keywords/agency-costs","display_name":"agency costs","score":0.9160000085830688},{"id":"https://openalex.org/keywords/corporate-managers","display_name":"corporate managers","score":0.546999990940094},{"id":"https://openalex.org/keywords/collective-ownership","display_name":"collective ownership","score":0.906000018119812},{"id":"https://openalex.org/keywords/hedge-fund-activism","display_name":"hedge fund activism","score":0.9879999756813049}],"concepts":[{"id":"https://openalex.org/C2777950569","wikidata":"https://www.wikidata.org/wiki/Q17021836","display_name":"Stewardship (theology)","level":3,"score":0.8166255950927734},{"id":"https://openalex.org/C6243943","wikidata":"https://www.wikidata.org/wiki/Q1195348","display_name":"Index fund","level":5,"score":0.7604092359542847},{"id":"https://openalex.org/C2777382242","wikidata":"https://www.wikidata.org/wiki/Q6017816","display_name":"Index (typography)","level":2,"score":0.7160991430282593},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.6797868013381958},{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.6700171232223511},{"id":"https://openalex.org/C108170787","wikidata":"https://www.wikidata.org/wiki/Q3951828","display_name":"Agency (philosophy)","level":2,"score":0.6503779292106628},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6353105902671814},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.5078056454658508},{"id":"https://openalex.org/C2781240625","wikidata":"https://www.wikidata.org/wiki/Q7615678","display_name":"Stewardship theory","level":4,"score":0.5048456788063049},{"id":"https://openalex.org/C100001284","wikidata":"https://www.wikidata.org/wiki/Q2248246","display_name":"Public economics","level":1,"score":0.48857030272483826},{"id":"https://openalex.org/C200707436","wikidata":"https://www.wikidata.org/wiki/Q1053211","display_name":"Principal\u2013agent problem","level":3,"score":0.4837074875831604},{"id":"https://openalex.org/C36673458","wikidata":"https://www.wikidata.org/wiki/Q392896","display_name":"Agency cost","level":4,"score":0.44588202238082886},{"id":"https://openalex.org/C166052673","wikidata":"https://www.wikidata.org/wiki/Q83021","display_name":"Empirical evidence","level":2,"score":0.42576727271080017},{"id":"https://openalex.org/C83864248","wikidata":"https://www.wikidata.org/wiki/Q177323","display_name":"Developing country","level":2,"score":0.42531827092170715},{"id":"https://openalex.org/C2780154274","wikidata":"https://www.wikidata.org/wiki/Q7126717","display_name":"Download","level":2,"score":0.41657596826553345},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.4116230905056},{"id":"https://openalex.org/C206757995","wikidata":"https://www.wikidata.org/wiki/Q1665188","display_name":"Institutional investor","level":3,"score":0.38733363151550293},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.34109044075012207},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3376849889755249},{"id":"https://openalex.org/C155301685","wikidata":"https://www.wikidata.org/wiki/Q493177","display_name":"Open-end fund","level":4,"score":0.2194311022758484},{"id":"https://openalex.org/C120757647","wikidata":"https://www.wikidata.org/wiki/Q381136","display_name":"Shareholder","level":3,"score":0.15376335382461548},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.12541818618774414},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.12383964657783508},{"id":"https://openalex.org/C50522688","wikidata":"https://www.wikidata.org/wiki/Q189833","display_name":"Economic growth","level":1,"score":0.11827880144119263},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.09619730710983276},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C111472728","wikidata":"https://www.wikidata.org/wiki/Q9471","display_name":"Epistemology","level":1,"score":0.0},{"id":"https://openalex.org/C136764020","wikidata":"https://www.wikidata.org/wiki/Q466","display_name":"World Wide Web","level":1,"score":0.0},{"id":"https://openalex.org/C111919701","wikidata":"https://www.wikidata.org/wiki/Q9135","display_name":"Operating system","level":1,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.2139/ssrn.3504424","doi":"https://doi.org/10.2139/ssrn.3504424","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.3504424","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":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"SSRN Electronic Journal","raw_type":"journal-article"}],"best_oa_location":{"id":"doi:10.2139/ssrn.3504424","doi":"https://doi.org/10.2139/ssrn.3504424","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.3504424","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":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"SSRN Electronic Journal","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W2985063247","https://openalex.org/W7052527704","https://openalex.org/W3027585524","https://openalex.org/W4226201674","https://openalex.org/W2993394771","https://openalex.org/W3080518400","https://openalex.org/W3200862295","https://openalex.org/W3048556826","https://openalex.org/W7213331110","https://openalex.org/W3122976525"],"abstract_inverted_index":null,"counts_by_year":[{"year":2026,"cited_by_count":6},{"year":2025,"cited_by_count":18},{"year":2024,"cited_by_count":27},{"year":2023,"cited_by_count":19},{"year":2022,"cited_by_count":12},{"year":2021,"cited_by_count":31},{"year":2020,"cited_by_count":29},{"year":2019,"cited_by_count":14},{"year":2018,"cited_by_count":3},{"year":2016,"cited_by_count":2}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2022-07-31T00:00:00"}