“They are in the era of passive investing the new gatekeepers of the financial markets. While the influence of indexbuilders grows, they are barely being controlled”.
Het Financieele Dagblad (FD) has published a new article on the rising influence of indexbuilders and draws on the conclusions of the recently published article “Steering capital: the growing private authority of index providers in the age of passive asset management” by Johannes Petry, Jan Fichtner and Eelke Heemskerk.
Read the full FD article here.
A new CORPNET working paper has been published by Jan Fichtner and Eelke Heemskerk and provides novel findings on the combined ownership of the Big Three (BlackRock, Vanguard and State Street). Fichtner and Heemskerk call them the ‘New Permanent Universal Owners’ as they are invested indefinitely in thousands of member firms of stock indexes. This paper assesses Big Three ownership in 17 major stock indexes from nine countries and shows that their voting behavior on buybacks and mergers & acquisitions so far does not support their claim to be champions of long-termism.
This publication is featured by Institutional Investor. In the interview Fichtner and Heemskerk say: “The concentration of ownership in their fund families was never on purpose; the concentration of voting power is a side effect of their successful business model. How can they now develop a responsible stewardship role without increasing their operational costs, without raising antitrust concerns and without undermining their business model?” The paper, having “struck a nerve” sparked reactions from BlackRock and Vanguard which can be read here.
The International Conference on Computational Social Science, abbreviated IC²S² 2019, will be held at the University of Amsterdam from July 17 to 20, 2019. The CORPNET computational social science research group is enthusiastic and excited about bringing this important conference to Amsterdam.
For four days, from July 17 to 20, the University of Amsterdam will be the epicenter of computational social science, hosting the 2019 edition of International Conference on Computational Social Science (IC2S2).
The 5th edition of IC2S2 aims to bring together scientists from different disciplines and research areas to meet and discuss computational problems in the study of social systems and dynamics. The conference draws over 350 researchers and practitioners from over 20 countries and an array of disciplines including amongst others sociology, psychology, communication sciences, computer science, physics, mathematics, the life sciences and economics.
Leading scientists and experts from all over the world will gather and exchange newest research findings during the conference. A data-thon will allow researchers to demonstrate their computational analysis skills while tackling real-world problems, while skills workshops will help attendees develop their computational skillsets.
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