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device than US counterparts since they are binding and UK shareholders have the statutory right to call special meetings and … small shareholders and social proposals dominate the proposing scene of the US. Our results suggest that shareholders can … impact the corporate governance and firm performance but that the methods through which shareholders are empowered are …
Persistent link: https://www.econbiz.de/10013037433
We construct a novel data set to show that, between 2003-2020, up to one-fifth of America’s largest firms had a non-financial blockholder or insider as their largest shareholder. Blockholders and insiders tend to be less diversified than institutional investors. Measures of “universal” and...
Persistent link: https://www.econbiz.de/10014077008
In the past decade, as a result of many interrelated changes in the economic environment, the role and the pressures on the corporate governance of firms have been significantly transformed in the US and the UK. To test the magnitude of this changed environment, we study one aspect of corporate...
Persistent link: https://www.econbiz.de/10013039032
In May 2009, the SEC proposed the most significant amendments to proxy rules since 1942. We build comprehensive samples of US and UK shareholder proposals for the period 2000-2006 to study the relation between proxy rules and proxy practices and the effect of shareholder proposals on firm...
Persistent link: https://www.econbiz.de/10013039333
corporate governance scholars should understand the nonfinancial motivations of shareholders when evaluating potential conflicts … controlling-versus-minority shareholders. Lastly, the PP literature should shift its rhetoric from conflicts to a good balance …
Persistent link: https://www.econbiz.de/10012893455
This paper aims to discover evidence on the possible impact of CEO overconfidence on payout policy, and the role of corporate boards in offsetting the possible negative effects of this overconfidence. Our investigation demonstrates the effect of overconfidence on the choice of payout method,...
Persistent link: https://www.econbiz.de/10012830148
We construct a novel data set to show that, between 2003-2020, up to one-fifth of America's largest firms had a non-financial blockholder or insider as their largest shareholder. Blockholders and insiders tend to be less diversified than institutional investors. Measures of "universal" and...
Persistent link: https://www.econbiz.de/10013365123
with theory of the firm based on conflicts of interests between shareholders and stakeholders, we find that establishments … of firms that experience an increase in ownership by larger and more concentrated institutional shareholders have lower … local labor markets, and for dedicated and activist institutional shareholders. The labor losses are accompanied by higher …
Persistent link: https://www.econbiz.de/10013334421
This paper compares the extent of common ownership in the US and the EU stock markets, with a particular focus on differences in the ap-plicable ownership transparency requirements. Most empirical research on common ownership to date has focused on US issuers, largely relying on ownership data...
Persistent link: https://www.econbiz.de/10013402996
resurrection" strategy. Moreover, the strength of corporate governance influences shareholders' capacity to align executive …
Persistent link: https://www.econbiz.de/10014635626