akt: Institutional ownership in publicly listed companies has grown rapidly in recent decades. It is claimed that institutional investors are well-suited for active involvement in firms’ corporate governance, because they are managed by professional managers who can utilise information better than lay investors. However, efficient governance may not be in the best interest of asset managers employed by institutional investors. The final role of institutional investors in corporate governance therefore remains an empirical question.

In this dissertation, I empirically investigate the role of public pension funds in firms’ governance, using the data from the Swedish pension system, which was reformed at the turn of the millennium. This data was chosen because Swedish public pension funds have the same history and mandates, and are expected to compete with each other. Thanks @stephenkendal it's really great news