855–72; and Eric Budish, Peter Cramton, and John Shim (forthcoming), “The High-Frequency Trading Arms Race: Frequent Batch Auctions as a Market Design Response (PDF),” Quarterly Journal of Economics (first published online on July 23, 2015). 10  Yacine Ait-Sahalia and Mehmet Saglam (2013), “High Frequency Traders: Taking Advantage of Speed (PDF)” NBER Working Paper Series 19531 (Cambridge, Mass.
That is, are institutional investors more likely than individual investors to actively monitor and influence both management actions and corporate governance mechanisms at the firms in which they invest? Shareholder activism may provide market discipline directly by preventing management from pursuing its own interests at the expense of shareholders.