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We examine the influence of proxy advisors on firms’ shareholder engagement behavior. Our analyses exploit a quasi-natural experiment using Say-On-Pay voting outcomes near a threshold that triggers a review of engagement activities by Institutional Shareholder Services (ISS). Firms receiving...
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-on-pay voting patterns suggest shareholders view positively the advice consultants provide but only when consultants do not provide …
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shareholders, non-conflicting consultants provide the boards with an unbiased signal of the managerial compensation in the labor …
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This paper provides a joint assessment of the antecedents and the performance consequences of the allocation of … find ownership allocation per se to be a significant driver of performance. The results suggest that the optimal allocation …
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