the significant role of customized proxy advice in shaping shareholders' voting decisions. About 80% of funds receive … plays two key roles. First, it helps shareholders express their ideologies through the vote. Second, it facilitates … shareholders' decision-making process by reducing the need to pay attention to every proposal individually and enabling focus on …

part of this process, shareholders have obtained greater ability to influence the behavior of the board of directors. In … seeking to exert influence, shareholders often do so through the proxy process. The proxy process provides shareholders with a … administered by the Securities and Exchange Commission (“SEC”), were drafted in an earlier era when shareholders were less involved …

We study how granting shareholders an advisory compensation vote affects the subsequent demand for shareholder voting … rights. We find that the voting premium decreases when shareholders are given the right to disapprove firm compensation plans …

oligopolistic equilibrium when all shareholders hold market portfolios is equivalent to a monopolistic equilibrium in which all … firms are merged. This is true even if shareholders with market portfolios have heterogeneous objectives. However, with …-common-ownership case. Furthermore, we show that, when shareholders are consumers, wealth inequality increases equilibrium markups, but the …