---
title: Limited Impact of Big Three Engagements on Firm Performance
url: https://www.ml-quant.com/papers/ssrn/4584464/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-09-26
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: SSRN 4584464
source_url: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4584464
featured: 2023-09-28
citations: unknown
topic: Corporate Finance
---


# Limited Impact of Big Three Engagements on Firm Performance

Research indicates that BlackRock, Vanguard, and State Street, the three largest asset managers, have limited capacity for active ownership due to their engagement targets and resource constraints.

- Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4584464
- Identifier: SSRN 4584464
- Released: 2023-09-26
- First featured: Quant Letter No. 17 (2023-09-28): https://www.ml-quant.com/issues/2023-09-28/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: Corporate Finance

## Related

- [ESG Reputation Risk Matters: An Event Study Based on Social Media Data](https://www.ml-quant.com/papers/arxiv/2307.11571/): The paper examines the influence of social media on shareholders' reactions to Environmental, Social, and Governance-related reputational risks, revealing a significant decrease in abnormal returns after an ESG-risk event.
- [Articulate AnyMesh: Open-Vocabulary 3D Articulated Objects Modeling](https://www.ml-quant.com/papers/arxiv/2502.02590/): 3D Object Modeling: Articulate Anymesh is a framework that transforms any rigid 3D mesh into an articulated object, aiding in the acquisition of new object manipulation skills in robotics.
- [Employer Reputation and the Labor Market: Evidence from Glassdoor.com and Dice.com](https://www.ml-quant.com/papers/arxiv/2305.02587/): Online reputation of employers, especially smaller and less established firms, significantly influences their ability to attract employees, according to a study using Glassdoor.com and Dice.com data.
- [The Evolution of US Retail Concentration](https://www.ml-quant.com/papers/arxiv/2202.07609/): Retail concentration in the U.S. has grown from 1992 to 2012 due to multi-market firms expanding, contributing to a third of the increase in retail gross margins.
- [Do We Price Happiness? Evidence from Korean Stock Market](https://www.ml-quant.com/papers/arxiv/2308.10039/): Google Trends' search volume for 'happiness' can predict future stock returns, particularly for large and value firms, indicating it mirrors a company's societal impact.
- [From the Top Down: Does Corruption Affect Performance?](https://www.ml-quant.com/papers/arxiv/2310.20028/): The study investigates the effect of managerial corruption on company performance, emphasizing the need for ethical corporate governance and careful manager selection.