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The fiduciary obligations of corporate directors is one of the most written about and important topics in corporate law … socially responsible fashion and thus eschew the notion of shareholder primacy is the exclusive guide to a director's fiduciary … duty. On this view, directors must consider the effect of their actions on “stakeholders” other than shareholders and be …
Persistent link: https://www.econbiz.de/10012823410
directors in decision-making concerning shareholders and stakeholders. In a sample comprising more than nine hundred directors … shareholders and stakeholders, called shareholderism. Directors' shareholderism correlates with personal values, but also with …
Persistent link: https://www.econbiz.de/10012868048
the minority shareholders by changing the internal monitoring mechanisms of the managers … exposure to stock price changes has forced the owners Chinese SOEs to evaluate the managers for the poor stock performance …. This also shows that alignment in the incentives of the minority and majority shareholders helps protect the interests of …
Persistent link: https://www.econbiz.de/10013010860
We examine how shareholders' trust in managers is affected by (1) the outcome of earnings management (inconsistent vs … have put their interests above shareholders' interests and/or when the method of earnings management suggests that managers … misreported the firm's economic performance. We argue that shareholders assess managers putting their interests above shareholders …
Persistent link: https://www.econbiz.de/10012857076
of directors, New Zealand company law gives shareholders significant control rights.Comparing New Zealand company law to …
Persistent link: https://www.econbiz.de/10013056388
Persistent link: https://www.econbiz.de/10012659628
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
Persistent link: https://www.econbiz.de/10013288202
practice of treating the company’s interests as synonymous with the shareholders’ interest. By reviewing the historical origins …
Persistent link: https://www.econbiz.de/10013288903
This paper shows that proxy contests have a significant adverse effect on careers of incumbent directors. Following a proxy contest, directors experience a significant decline in number of directorships not only in the targeted company, but also in other non-targeted companies. The results are...
Persistent link: https://www.econbiz.de/10013035358