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We offer that, when regulators require firms to obtain stakeholder approval of a corporate decision through voting on a resolution, firms disclose additional information that is needed for stakeholders to understand the optimal nature of the proposal and to vote in favor of it. We suggest that...
Persistent link: https://www.econbiz.de/10012826813
.S. government became one of the largest shareholders in the world owning a portfolio of investments valued at $959 billion. Some …
Persistent link: https://www.econbiz.de/10013133324
Advisory committees are a ubiquitous yet understudied feature of the administrative state. More than seventy-five thousand experts from outside the federal government serve on over one thousand committees across the executive branch, providing agencies with informed “second opinions” to...
Persistent link: https://www.econbiz.de/10014104544
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who free-ride off the monitor. We test this prediction in the setting where large shareholders contractually bind …
Persistent link: https://www.econbiz.de/10012584426
Can corporate governance ratings reduce problems of asymmetric information between companies and investors? To answer this question, we set out to examine the information basis for providing such ratings by reviewing corporate governance attributes that are required or recommended in laws,...
Persistent link: https://www.econbiz.de/10010469303
There are several measures of equity compensation that may provide shareholders with distinct and useful information … for evaluating CEO pay. We examine whether shareholders consider additional disclosures of equity compensation measures … outcomes remain significantly related to abnormal equity compensation expense. Consistent with shareholders considering the …
Persistent link: https://www.econbiz.de/10012903909
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This paper discusses the relationship between stock market liquidity and corporate governance. Both concepts are widely investigated from different angles in the literature. It is generally agreed that they are related so that better corporate governance implies higher liquidity for shares of...
Persistent link: https://www.econbiz.de/10012174012
Eine verantwortungsvolle Corporate Governance soll dazu beitragen, dass einerseits das Energieunternehmen und andererseits der wesentliche Gesellschafter, die Kommune, bei der Erfüllung ihrer Ziele unterstützt werden. Wie jeder private Anteilseigner strebt die politische Führung einer Kommune...
Persistent link: https://www.econbiz.de/10011139796