The value of a right should not be lower than zero. The present paper overcomes some possible measurement errors and proposes a new measure of the voting right, the Relative Vote Segment, which incorporates dividend privileges into the inferior class of shares, when granted. Results from Italian...

Proxy advisors, private firms that help institutional investors decide how to vote their shares, play an extremely powerful role in shaping corporate governance. However, investors and policymakers are concerned about undesirable features of the industry, especially potential conflicts of...

Using a sample of voting turnouts of annual general meetings of European companies, we document that shareholder voting turnouts are significantly different according to the ownership structure of the company. Different types of shareholder classes show different voting engagements according to...