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Using the staggered adoption of universal demand (UD) laws in the United States, we show that the reduction in shareholder litigation risk deteriorates firms' stock price informativeness. This reduction in stock price informativeness is due to firms changing the way they invest rather than...
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already in place, such as the Shareholders' Rights Directive, the Transparency Directive and the requirement to make a … corporate governance statement available to shareholders. But more needs to be done, and in the 2012 Action Plan the Commission … role in engaging shareholders in corporate governance issues will contribute positively to good corporate governance in …
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This book provides a systematic overview of shareholders' duties found in European company law and capital market law …. It is often assumed that shareholders have rights, not duties. In recent years, however, this assumption has come under … important implications for the fundamentals of European company law, and there is a need to examine shareholders' duties and …
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ability to perform the monitoring function. As recently as a few years ago, the ability and desire of corporate shareholders … to mount a challenge over corporate governance seemed suspect. After all, shareholders were considered to be passive …" stage of corporate law, institutional shareholders lack an incentive to invest in a corporation for the long term. They …
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