Portfolio diversification and internalization of production externalities through majority voting

@inproceedings{Crs2005PortfolioDA,
  title={Portfolio diversification and internalization of production externalities through majority voting},
  author={Herv{\'e} Cr{\`e}s and Mich Tvede},
  year={2005}
}
In absence of markets for externalities, the authors look for governances and conditions under which majority voting among shareholders is likely to give rise to efficient internalization. The central and natural role played by a governance of stakeholders is underlined and benchmarked. 

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