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We use the Business Roundtable's challenge to the SEC's 2010 proxy access rule as a natural experiment to measure the value of shareholder proxy access. We find that firms that would have been most vulnerable to proxy access, as measured by institutional ownership and activist institutional...
Persistent link: https://www.econbiz.de/10013111307
‘Shareholder rights' are the legal entitlements of shareholders via-a-vis companies in which they invest. A large body … that without accountability, managers and dominant shareholders will use their power to further their own interests at the … rights in ways that can be excessive. This can harm not only other constituencies but also shareholders, as it can promote …
Persistent link: https://www.econbiz.de/10012842156
shareholders. It follows that the interests of other corporate constituencies – and, in particular, those of employees – must … ultimately cede to those of shareholders in the event of conflict. Although frequently taken for granted today, the lexical … priority that the British company law framework affords to the interests of shareholders over those of other corporate …
Persistent link: https://www.econbiz.de/10012983636
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, on the exercise of certain rights by shareholders of listed companies, by establishing a special regime for these …
Persistent link: https://www.econbiz.de/10013100115
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cost of the company. They include management, board members and controlling shareholders. The publication reviews …
Persistent link: https://www.econbiz.de/10012450114
protection to minority shareholders in Brazilian listed corporations. Section I examines the history of minority shareholders … current legal framework for the protection of minority shareholders. It analyzes the most important provisions under the … shareholders. The data shows that judicial and administrative application of such legal provisions is still relatively …
Persistent link: https://www.econbiz.de/10014043324
Persistent link: https://www.econbiz.de/10011921862
Despite conventional beliefs in the predominance of shareholder value, a broader agenda of stakeholder consideration has been advocated in the UK by the recently-introduced ESV principle – the overriding corporate objective in the new company law regime. In this paper, the efficiency of this...
Persistent link: https://www.econbiz.de/10013121255