BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//132.216.98.100//NONSGML kigkonsult.se iCalcreator 2.20.4//
BEGIN:VEVENT
UID:20260705T063413EDT-3391nKkjwu@132.216.98.100
DTSTAMP:20260705T103413Z
DESCRIPTION:Alon Brav\n\nDuke University\n\nFlows\, Financing Decisions\, a
 nd Institutional\n	Ownership of the U.S. Equity Market\n\nDate: Friday\, Ap
 ril 12\, 2024\n	Time: 10:30-11:45 am\n	Location: Bronfman Bldg. (1001 Sherbr
 ooke St. West)\, Room 340\n\nAll are cordially invited to attend.\n\nPleas
 e dgfc.mgmt [at] mcgill.ca (subject: Desmarais%20Global%20Finance%20Resear
 ch%20Centre%20Seminars)  (contact us) for more details.\n\nAbstract\n\nThi
 s Article analyzes the relationship between flows to institutional investm
 ent managers\, corporate financing decisions\, and institutional ownership
  of U.S. public equity. In so doing\, it provides new evidence about the d
 rivers of institutional investor growth in equity ownership over the past 
 two decades. Contrary to conventional narrative\, we find that equity capi
 tal flows into the “Big Three” investment managers have slowed in recent y
 ears\, with substantial differences between each institution. We also pres
 ent a framework to understand how fund characteristics and corporate actio
 ns such as stock buybacks and equity issuances combine to shape the evolut
 ion of institutional ownership\, including that of the Big Three. Our evid
 ence reveals why certain institutions win and lose in the contest for flow
 s and implicates important legal conversations including the impact of sto
 ck buybacks\, mergers between investment managers\, and the governance ris
 ks presented by the rise of index investing.\n
DTSTART:20240412T143000Z
DTEND:20240412T154500Z
LOCATION:Room 340\, Bronfman Building\, CA\, QC\, Montreal\, H3A 1G5\, 1001
  rue Sherbrooke Ouest
SUMMARY:Desmarais Global Finance Research Centre (DGFRC) Seminar
URL:/desautels/channels/event/desmarais-global-finance
 -research-centre-dgfrc-seminar-356662
END:VEVENT
END:VCALENDAR