This is the first comprehensive study of mutual fund voting in proxy contests. Mutual funds tend to vote for dissident nominees at firms with weak operating and financial performance, and when dissidents are hedge funds. Notably, passive funds are more likely to support incumbent management than...

This paper describes the ownership structure in listed companies around the world. By using data for 10 000 largest listed companies, that together make up 90% of the global market capitalisation, we provide a description and comparison of the ownership structure of listed companies in 54...

We study retail shareholder voting using a detailed and nearly universal sample of anonymizedretail shareholder voting records over the period 2015-2017. Contrary to public perception, wefind that retail shareholders are an influential voting bloc, affecting as many proposal outcomes asthe Big...

We investigate whether business ties with portfolio firms influence mutual funds' proxy voting using a comprehensive data set spanning 2003 to 2011. In contrast to prior literature, we find that business ties significantly influence pro-management voting at the level of individual pairs of fund...

In this paper I examine the phenomenon called Hedge Fund Activism and its effect on the governance of public corporations in the United States.The following subtopics are addressed:1. Definition of Hedge Fund Activism, its primary objective and typical targets;2. Review of the public policy...