Ownership Structure, Incentives, and Asset Returns

The authors thank the anonymous reviewer, the anonymous associate editor, Tomasz Piskorski (the editor), Doron Avramov, Gilles Chemla, Francois Derrien, Dan Galai, Neal Galpin, Bruce Grundy, Barney Hartman-Glaser, Spencer Martin, Filippo Massari, Lyndon Moore, Savitar Sundaresan, Josef Zechner, and seminar participants at the Western Finance Association Conference, the European Finance Association Conference, the Society for Economic Dynamics Conference, the Financial Research Network Conference, the Vienna Graduate School of Finance, the University of Oklahoma, the University of Central Florida, the Hebrew University of Jerusalem, the University of Melbourne, and Georgia State University for valuable comments. The usual disclaimers apply.