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governance quality. We show that when only earnings are disclosed, shareholders intervene in firms with intermediate performance … are jointly disclosed with earnings, shareholders target intermediately and well-performing firms with a high pay …
Persistent link: https://www.econbiz.de/10012839787
shareholders are not expected to have much influence, my findings show that the activists enhance company value both in the short … the disclosure of substantial shareholders' intention, demand, and proposals on public companies, which would provide …
Persistent link: https://www.econbiz.de/10012903642
There are several measures of equity compensation that may provide shareholders with distinct and useful information … for evaluating CEO pay. We examine whether shareholders consider additional disclosures of equity compensation measures … outcomes remain significantly related to abnormal equity compensation expense. Consistent with shareholders considering the …
Persistent link: https://www.econbiz.de/10012903909
We examine the relation between shareholder activism and voluntary disclosure. An important consequence of voluntary disclosure is less adverse selection in the capital markets. One class of traders that finds less adverse selection unprofitable is activist investors who target mispriced firms...
Persistent link: https://www.econbiz.de/10012970911
Demand for disclosures on environmental, social and governance (ESG) issues has increased dramatically. Using corporate political spending disclosures as our setting, we conduct a detailed inquiry of 541 political spending-related shareholder proposals from 2004 to 2012 to highlight the role of...
Persistent link: https://www.econbiz.de/10012975212
of bond interest rates. Just as shareholders, bondholders can play an important role in corporate governance. They can …
Persistent link: https://www.econbiz.de/10013024182
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...
Persistent link: https://www.econbiz.de/10012586749
of bond interest rates. Just as shareholders, bondholders can play an important role in corporate governance. They can …
Persistent link: https://www.econbiz.de/10012447288
This study investigates whether conference calls accompanying M&A announcements in Europe provide valuable information for capital market participants and hence induce an abnormal stock price revaluation on the bidder’s equity. Based on handpicked data for transactions between 2008 and 2012 we...
Persistent link: https://www.econbiz.de/10011848217
Demand for disclosures on environmental, social and governance (ESG) issues has increased dramatically. Using corporate political spending disclosures as our setting, we conduct a detailed inquiry of 541 political spending-related shareholder proposals from 2004 to 2012 to highlight the role of...
Persistent link: https://www.econbiz.de/10012916137