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 …

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

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

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

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

theory, in countries where private benefits of control are larger capital markets are less developed, ownership is more … important in curbing these private benefits. A high degree of statutory protection of minority shareholders and high degree of … that the 'non traditional' mechanisms have at least as much explanatory power as the legal ones commonly mentioned in the …

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 …

techniques, and applying the Shapley-Shubik algorithm to quantify shareholder's voting power we trace ultimate controlling … shareholders from the complex, pyramidal, and often obscure corporate structures. First, we show that there are large differences …

managers, institutional investors, small shareholders, auditors, and other parties involved in corporate governance. The lower … significantly upend the balance of power among these cohorts …