We test the hypothesis whether a specific aspect of culture - trust in others - affects shareholder voting behavior by … in high-trust countries while the percentage of votes in support of management proposals is higher. Shocks to trust and … monitoring when trust is high. …

We test the hypothesis that a specific aspect of culture - trust in others - affects shareholder voting behavior as it … shareholder meetings is lower in high-trust countries while the percentage of votes in support of management is higher. Shocks to … trust and IV regressions support this result. We also find that shareholder voting is more valuable in low-trust countries …