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Adrian Aycan Corum

Institution

Cornell University

PhD Year

2018

corum@cornell.edu

FTG Membership

Member

Website

https://www.johnson.cornell.edu/faculty-research/faculty/aac256/

Featured Work

Jan 13, 2026

Adrian Aycan Corum, Andrey Malenko, Nadya Malenko

Corporate Governance in the Presence of Active and Passive Delegated Investment

We examine the governance implications of passive fund growth. In our model, investors allocate capital between passive funds, active funds, and private savings, and funds' fees and ownership stakes determine their incentives to engage in governance. If passive funds grow because of easier access to index investing, governance improves, albeit only up to a point where passive funds start primarily crowding out investors' allocations to...