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mechanism for exercising governance around the world …
Persistent link: https://www.econbiz.de/10013011773
This paper examines why institutional shareholders frequently oppose activists when activism increases the value of …
Persistent link: https://www.econbiz.de/10012863053
We examine the effect of voting requirements in M&A transactions on managerial disclosure, information asymmetries, and voting outcomes. We find that voting requirements lead firms to provide more disclosure and in a timelier manner, including disclosure of the merger agreement, information on...
Persistent link: https://www.econbiz.de/10014257600
This paper asks the question whether dissent votes in uncontested director elections have consequences for directors. We show that, contrary to popular belief based on prior studies, shareholder votes have power and result in negative consequences for directors. Directors facing dissent are more...
Persistent link: https://www.econbiz.de/10012971711
Proxy advisory firms and large passive mutual funds have faced criticism both for being too powerful and not exercising diligence in proxy voting. We document that the ``Big 3'' passive fund families, Blackrock, State Street, and Vanguard, are increasingly likely to vote with management, and...
Persistent link: https://www.econbiz.de/10012855196
directors, shareholders, judges and scholars are on edge. Directors yearn for a certain kind of shareholder, especially one that … own fleetingly. Shareholders want a voice, and that patient-focused cohort has the softest one today, crowded out by … directors and shareholders, while easing the judicial burden and scholarly angst: on corporate matters where stakes run high …
Persistent link: https://www.econbiz.de/10013241029
Persistent link: https://www.econbiz.de/10012850177
Nothing in either corporate or securities law requires companies to notify investors what they will be voting on before the record date for the meeting. We show that, overwhelmingly, they do not. The result is “hidden agendas:” in 88% of shareholder votes, investors cannot find out what they...
Persistent link: https://www.econbiz.de/10013216298
of associations have no major impact on shareholders' engagements. Corporate performance and other governance mechanisms … debate of shareholder empowerment. The agenda and hence the role of shareholders should be restructured. The AGM should be …
Persistent link: https://www.econbiz.de/10013122441
generally lead to better outcomes for companies and their shareholders. This Closer Look provides a comprehensive review of the …-authors of the books Corporate Governance Matters and A Real Look at Real World Corporate Governance …
Persistent link: https://www.econbiz.de/10011980178