Is There More Than One Way For Shareholders To Exert Influence? The governance mechanism of “exit”, i.e. voting with your feet, with a particular application to emerging markets. By the IFC (World Bank).
Stock Market Turnover and Corporate Governance. How liquidity and short-term trading can improve governance, contrary to common wisdom. VoxEU op-ed.
The Choice Between Voice and Exit: The Effect of Liquidity on Shareholder Commitment. Interview with Knowledge@Wharton on same topic.