companies and revealing how these institutional investors behave and vote at shareholders' meetings. The results show growing …

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 …

Our model shows that it is optimal for shareholders to choose boards of directors whose preferences do not align with … those of the shareholders. Such a board composition works as the shareholders' commitment to providing an incentive for risk …

. 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 …

shareholders. As a result, these directors have incentives to go along with controllers' wishes, or, at least, inadequate … that allows policymakers to produce the precise balance of power between controlling shareholders and public investors that …