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We study shareholder support for corporate board nominees before and after the 2018 California gender quota. Pre-quota, new female nominees received greater support than new male nominees, consistent with women being held to a higher standard. Post-quota, as the number of women increased,...
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Corporate law is consumed with a debate over shareholder democracy. The conventional wisdom counsels that shareholders … increased board discretion. These theorists argue that shareholders need to delegate their authority in order to provide the … classical economic underpinnings of corporate law have been destabilized by a growing recognition that shareholders are not a …
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In the past decades, shareholder democracy has been the center of attention in corporate governance research. Academic commentators have lined up on both sides of the debate and have fiercely advocated either increasing or limiting shareholder power. Yet, the scope of many of these arguments has...
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