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UID:20260312T080740EDT-3153KnNOBr@132.216.98.100
DTSTAMP:20260312T120740Z
DESCRIPTION:Andrey Malenko\n\nBoston College\n\nFragmentation of Shareholde
 r Power\n\nDate: Friday\, March 13\, 2026\n	Time: 10:30-11:45 am\n	Location:
  Bronfman Bldg. (1001 Sherbrooke St. West)\, Room 046\n\nAll are cordially
  invited to attend.\n\nAbstract:\n\nThe asset management industry is incre
 asingly shifting toward tailored portfolios\, fund proliferation\, and dec
 entralization of stewardship – trends partly driven by growing heterogenei
 ty in investor preferences. While these developments better align investme
 nt products with investor demands\, they also reshape ownership structures
 \, potentially leading to more fragmented ownership and weaker managerial 
 oversight. We develop a framework to evaluate these trade-offs and show th
 at fund proliferation does not necessarily weaken governance: Stronger inc
 entives for asset managers and concentrated portfolios of specialized fund
 s can offset these effects\, especially when investor preferences are inte
 nse. However\, strong investor preferences can also induce asset managers 
 to compete on a new margin – granting investors control by decentralizing 
 stewardship and adopting pass-through voting – without internalizing the a
 ssociated governance costs.\n
DTSTART:20260313T143000Z
DTEND:20260313T154500Z
LOCATION:Room 046\, Bronfman Building\, CA\, QC\, Montreal\, H3A 1G5\, 1001
  rue Sherbrooke Ouest
SUMMARY:Desmarais Global Finance Research Centre (DGFRC) Seminar: Andrey Ma
 lenko 
URL:/desautels/channels/event/desmarais-global-finance
 -research-centre-dgfrc-seminar-andrey-malenko-371851
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