records over the period 2015-2017. Contrary to public perception, wefind that retail shareholders are an influential voting … their portfolio. Retail shareholders with large stock portfoliosand low opportunity costs are most likely to turn out. In … recommendations thanthat of large mutual funds. Retail shareholders can be divided into two blocs. The first are highlyinfluential …

. Shareholders vote by unilateral proxies, which prevent them from “mixing and matching” among nominees from either side. The … outcomes, which disenfranchise shareholders. By removing these distortions, universal proxies would improve corporate suffrage …

Independent directors are an important feature of modern corporate law. Courts and lawmakers around the world … shareholders. As a result, these directors have incentives to go along with controllers' wishes, or, at least, inadequate … firm's strategy. We explain how the Delaware courts, as well as other lawmakers in the United States and around the world …

policies affects the quality of firm governance. We find that a 2003 reform that empowered shareholders to approve or reject …

-friendly) retail shareholders. Our study focuses on an observable managerial choice of how to deliver proxy materials to maximize … retail turnout. Management can opt to send a full set of proxy materials to all shareholders, which increases retail turnout … but also increases printing and mailing costs, or they can send a notice directing shareholders to proxy materials …

mechanism to monitor management and are instrumental in mitigating the agency conflict between managers and shareholders. We … detrimental to the long term interests of companies and their long term shareholders. Moreover, our findings suggest that hedge … funds generate substantial long term value for target firms and its long term shareholders when they function as a …

intuitive reason for the topicality of shareholder protection is that insolvencies mainly harm shareholders as the companies …

different classes of shareholders and their relation with PA recommendations. Our main results can be summarized as follows: i …