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We implement a regression discontinuity design to examine the effect of institutional ownership on corporate disclosure policy. With a novel, hand-collected data set encompassing every 8-K filing between 1996 and 2006, we find that positive shocks to institutional ownership around Russell index reconstitutions increase disclosure quantity, form, and quality. Firms just-added to the Russell 2000 index increase institutional ownership by 9.8%, and disclose 4.7% longer 8-K filings with 21.3% moredoi:10.1093/rfs/hhw062 fatcat:36pyqlejd5dllplfv7klmthtke