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in Europe and Latin America, where several governments are large shareholders in a variety of public firms. In a sense …, the subprime crisis induced these governments to behave as active large shareholders. This paper uses a sample of public … firms in Brazil to show that government activism lowers the value of minority shareholders' voting rights. While the …
Persistent link: https://www.econbiz.de/10011405286
of associations have no major impact on shareholders' engagements. Corporate performance and other governance mechanisms … debate of shareholder empowerment. The agenda and hence the role of shareholders should be restructured. The AGM should be …
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of shareholders' value maximisation strategies. Neither shareholders nor their representatives will voluntarily adopt …
Persistent link: https://www.econbiz.de/10013014969
breaks out, shareholders wield immense influence. These contests tend to have significant benefits for the corporation … uncontested director elections, shareholders' decisions to vote for or withhold their vote reflect the company's performance. The … suggests that shareholders seriously scrutinize management proposals, instead of blindly following management. ISS and …
Persistent link: https://www.econbiz.de/10012944114
This paper asks the question whether dissent votes in uncontested director elections have consequences for directors. We show that, contrary to popular belief based on prior studies, shareholder votes have power and result in negative consequences for directors. Directors facing dissent are more...
Persistent link: https://www.econbiz.de/10012971711
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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