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considering stakeholders other than shareholders in determining material issues and materiality for strategy and reporting. New …
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Recent trends in shareholder empowerment have spurred a heated debate whether empowered shareholders will ultimately … shareholders will improve managerial accountability and firm performance, critics warn that shareholder empowerment will merely … amplify corporate myopia and shift the problem of managerial self-serving to shareholders' self-serving. In this volume we …
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increased shareholders' voting power in uncontested board elections, and, to establish the causality, I take advantage of the … that this is due to shareholders' decreased participation in both the sponsorship of governance proposals and active voting … in annual meetings. I argue that the negative relationship between shareholders' voting power and their participation is …
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In this paper, we first shed light on the factors that underlie the differences between the ‘shareholder wealth maximization' and the ‘long-term commitment' models of corporate governance. By introducing a third type of governance model, we show that a three-dimensional approach provides a...
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