Shareholder say-on-pay votes allow institutional investors to influence the incentives of managers and, consequently, corporate behaviour. Surprisingly, the preferences of investors on executive compensation have been largely overlooked in the ongoing debates on sustainable corporate behaviour....

Share transfer restrictions are typical elements of governance in non-listed firms where members, given the locked nature of investments, are in strong dependence upon each others actions and contract for special share transfer clauses to ensure successful cooperation. First purchase rights,...

While shareholder engagement has captured much attention recently, the evidence on the role of large institutional investors remains relatively scarce. Large asset managers have become an increasingly powerful force since the financial crisis of 2008, with the top 20 managers controlling...