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We investigate whether limited investor attention is a factor in the effectiveness of institutional shareholder activism. Prior research has shown that an inability of market participants to allocate sufficient intellectual effort to the investment decision can have an impact on market price and...
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focus on annual meetings with at least one ballot item where a substantial fraction of shareholders is expected to vote …
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.S. But we argue that outside investors in European listed firms with controlling shareholders are poorly protected compared … shareholders rather than shielding passive investors, is not well suited for controlled, listed firms. This approach translates … into a lack of definition and development of specific fiduciary duties of the controlling shareholders towards market …
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This paper examines empirically the announcement effect of commercial corporate governance ratings on share returns. Rating downgrades by Institutional Shareholder Services (ISS) are associated with negative returns of –1.14% over a 3-day announcement window. The returns are highly correlated...
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This Article explores the creation and conundrum of citizen shareholders - investors who enter the securities market …-term goals like retirement. Citizen shareholders are a consequence of a retirement revolution, and are the fastest growing group … of investors. Citizen shareholders are distinguishable from other shareholders on the grounds of choice, exit, and the …
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