This paper studies voting in shareholders meetings. We focus on the informational efficiency of different voting … mechanisms, taking into account that they affect both management's incentives before the meeting and shareholders' decisions at … effect of worse selection incentives on shareholders' welfare can be large enough to wash out the higher voting efficiency of …

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 …

. In some cases shareholders are pushing companies to take actions that may reduce market value. It is hard to understand …

Economic theory suggests that monopoly prices hurt consumers but benefit shareholders. But in a world where individuals … or households can be both consumers and shareholders, the impact of market power on inequality depends in part on the …