Hidden ownership thus contributes to more efficient markets, better markets for corporate influence and corporate control and is an effective check on managerial rent seeking. The article argues that mandatory disclosure of economic only ownership can have a deleterious effect on the financial markets as it will diminish the incentives to search for information which is a socially beneficial activity. It then examines hedge fund activism as a means of revitalizing corporate governance and shows how hidden ownership incentivizes activism by rewarding expensive investments in developing private information. This article underscores the benefits of hidden ownership and examines its impact on corporate governance. Except for those boundaries, this is an excellent little utility suitable for users of any level.The dissociation of a share into voting and economic rights has made hidden ownership possible. Per its own Web site, you cannot merge more than five documents at a time or split a PDF of more than 50 pages. Though Adolix says this software is free of limitations, this is actually not true. You cannot access the sparse Help file through the program's interface instead, you must navigate to its position with the program's Start Menu folder. For example, a multiline Add Files list implies that you can add multiple PDFs to split, set options for each, then run the actions in one batch, but this is not possible. The interface, while easy to understand, does have its own issues. Advanced users will appreciate the ability to pass command-line arguments to the tool. The application also lets you enter passwords for encrypted PDFs, choose the target directory, and set a naming convention for tile. When merging files, you can adjust the order in which the files will be appended to one another. For splitting, Adolix offers pattern-based choices as well as the ability to identify specific pages akin to the Print function in Microsoft Word.

Adolix Split and Merge PDF is a handy utility for anyone who needs to manipulate PDF files but does not have access to the full Adobe Acrobat software.Īs its name states, the application provides only two functions: splitting and merging.

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