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who free-ride off the monitor. We test this prediction in the setting where large shareholders contractually bind …
Persistent link: https://www.econbiz.de/10012584426
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 …
Persistent link: https://www.econbiz.de/10013122441
Corporate bylaws are the new leading edge of a decades-long struggle between shareholders and managers over the … allocation of decision-making authority in public companies. Bylaws are the only method by which shareholders can unilaterally … in circumstances where shareholders' other core rights, i.e., the ability to exit the firm or sue its fiduciaries, are …
Persistent link: https://www.econbiz.de/10013036309
In theory, large institutional investors are in an excellent position to overcome collective action problems and form voting coalitions to actively monitor and discipline managers of public corporations. This article argues that it is highly unlikely that voting coalitions of institutional...
Persistent link: https://www.econbiz.de/10014192544
academics and market participants, is that entrenchment reduces accountability to shareholders and amplifies agency costs, thus …
Persistent link: https://www.econbiz.de/10013116368
Persistent link: https://www.econbiz.de/10013203528
This paper reviews the theoretical and empirical literature on the role of blockholders (large shareholders) in …
Persistent link: https://www.econbiz.de/10014023374
Persistent link: https://www.econbiz.de/10014424371
Persistent link: https://www.econbiz.de/10015062610
Milton Friedman's admonition 50 years ago that the modern corporation should maximize shareholder value remains controversial. We argue that under certain broad assumptions, the admonition remains a good place to start. To strengthen the prospects for success of long-term shareholder value...
Persistent link: https://www.econbiz.de/10012840244