it is manifested and how it is exercised. We examine this topic in greater detail, and ask: Are shareholders better or … Real Look at Real World Corporate Governance …

-party transactions and other conflicts of interest situations. Moreover, controlling shareholders often perform some of the functions …

Current attempts to reform financial markets presume that shareholder empowerment benefits shareholders. We investigate … the wealth effects associated with the SEC's rule to facilitate director nominations by shareholders. Our results are not … the probability of passage of the proposal, firms whose shareholders are more likely to use the rule to nominate directors …

governance quality. We show that when only earnings are disclosed, shareholders intervene in firms with intermediate performance … are jointly disclosed with earnings, shareholders target intermediately and well-performing firms with a high pay …

preferences for monitoring executive compensation. When shareholders express disapproval through low Say-On-Pay (SOP) support … shareholder support for reelection, and decreased directorial compensation. Shareholders at firms sharing an affected director …-binding SOP votes may provide shareholders with a mechanism to influence director incentives, and therefore, executive …

Independent directors are an important feature of modern corporate law. Courts and lawmakers around the world … shareholders. As a result, these directors have incentives to go along with controllers' wishes, or, at least, inadequate … firm's strategy. We explain how the Delaware courts, as well as other lawmakers in the United States and around the world …