Showing 1 - 10 of 174,079
to an influential argument, activist shareholders can offer a solution by supplying large investment managers with … shareholders – have different visions of stewardship with little scope for interactions. For large investment managers, general …
Persistent link: https://www.econbiz.de/10012507489
This study uses two distinct quasi-natural experiments to examine the effect of institutional shareholders on corporate … reconstitutions improves portfolio firms' CSR performance. We then find that firms have lower CSR ratings when shareholders are … financially material. Furthermore, we show that institutional shareholders influence CSR through CSR-related proposals. Overall …
Persistent link: https://www.econbiz.de/10012902227
We investigate environmental, social, and governance (ESG) and firm value effects of more than 7,000 shareholder proposals submitted between 2006–2020. Using propensity score matching and a difference-in-differences setting, the results indicate that firms that receive an ESG- or...
Persistent link: https://www.econbiz.de/10014257842
Managerial resistance precludes half of shareholder-initiated proposals from reaching the ballot stage. I construct a novel dataset of excluded and withdrawn proposals from the Securities and Exchange Commission's responses to managers' exclusion requests. An examination of announcement returns...
Persistent link: https://www.econbiz.de/10011976966
decision-making concerning shareholders and stakeholders. In a sample comprising more than nine hundred directors originating … a principled, quasi-ideological stance towards shareholders and stakeholders, called shareholderism, on which they vary …
Persistent link: https://www.econbiz.de/10012668240
shareholders who reveal a corresponding preference for social or environmental performance, as proxied by their quantifiable …
Persistent link: https://www.econbiz.de/10013242588
, economic and political, both counsel in favor of extending the corporate franchise to employees as well as shareholders, and …
Persistent link: https://www.econbiz.de/10012848084
There is a heated debate on shareholder versus stakeholder governance. The stakeholder view recognises that companies have broader responsibilities to society than just making profit. But the lack of an integrated measure makes it difficult to hold management accountable against multiple goals....
Persistent link: https://www.econbiz.de/10014235517
This research examines the relation between shareholder litigation and corporate social responsibility (CSR). Exploiting exogenous changes in shareholder litigation rights following the staggered adoption of universal demand laws by U.S. states and the Ninth Circuit Court of Appeals' ruling on...
Persistent link: https://www.econbiz.de/10013212135
Few can argue with the notion that corporations should at least consider corporate social responsibility (CSR) to better understand the impact of their operations on society. However, recent empirical tests suggest CSR has an ambiguous impact on firm performance. To shed new light on this...
Persistent link: https://www.econbiz.de/10014332699