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Managerial resistance precludes half of shareholder-initiated proposals from reaching the ballot stage. I construct a novel dataset of excluded and withdrawn proposals from the Securities and Exchange Commission's responses to managers' exclusion requests. An examination of announcement returns...
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Sustainable Companies Agenda. It suggests that affording greater power to shareholders and encouraging greater engagement may not … advance the Agenda unless shareholders anticipate a direct personal financial benefit. The article also raises the possibility … that such a policy could impede progress by the adoption by shareholders of a short-termist approach to the company …
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