We test the hypothesis that a specific aspect of culture - trust in others - affects shareholder voting behavior as it … trust and IV regressions support this result. We also find that shareholder voting is more valuable in low-trust countries …

I introduce a model of shareholder voting. I describe and provide characterizations of three families of shareholder … requires the shareholder voting rule to be immune to certain manipulative techniques used by shareholders to hide their … voting rules: ratio rules, difference rules, and share majority rules. The characterizations rely on two key axioms: merger …