subscribers) by a proxy advisor, whose objective is to maximize its profits from selling information to shareholders. We show that … even if all shareholders' interests are aligned and aim at maximizing firm value, the proxy advisor benefits from biasing … results help reinterpret empirical patterns of shareholders' voting behavior …

associated with controlling shareholders who hold a majority of the cash flow rights in their companies. The agency costs of …

an information ea between management and outside shareholders. In the presence of such a gap, maximizing short-run and … actions that will reduce long-run value. In such a case, management faces the dilemma of which shareholders to please: those …

work on shareholders and shareholder activism, directors, executives and their compensation, controlling shareholders …

position to benefit themselves at the expense of minority shareholders -- were endemic to corporations in the late …, however, was to give controlling shareholders the power to extract more than their fair share of their enterprise's profits …

minority shareholders. We provide evidence and a model that explains propping. In particular, we suggest that issuing debt can …

important in curbing these private benefits. A high degree of statutory protection of minority shareholders and high degree of …

GIM Index or the proportion of activist shareholders. Following these special meetings, we find that the next quarter …