This paper studies the information content and consequences of third-party voting advice issued during proxy contests. We document significant abnormal stock returns around proxy vote recommendations and develop an estimation procedure for disentangling stock price effects due to changes in...

The Financial Industry Regulatory Authority began to collect transaction data from broker-dealers in 2011 as a step towards enhancing its understanding of securitization markets. We use transaction data to document the importance of the interdealer network structure for market quality. Some...

This paper studies the information content and consequences of third-party voting advice issued during proxy contests. We document significant abnormal stock returns around proxy vote recommendations and develop an estimation procedure for disentangling stock price effects due to changes in...