We analyze the role of common equity blockholders in fostering the formation of strategic alliances, establish a positive causal effect of strategic alliances on corporate innovation, and analyze the channels through which strategic alliances foster innovation. Our findings may be summarized as...

We examine the efficacy of proxy voting to limit inflated CEO pay. We find that the percentage of dissenting votes that go against director-sponsored compensation proposals increases following a staggered rejection of the Inevitable Disclosure Doctrine (RIDD), which increases CEOs’ job...

This paper examines the role of common institutional blockholders (CIB) in promoting strategic alliances and facilitating the transfer of human capital between alliance firms. We find that firms are more likely to form strategic alliances, including R&D, licensing, manufacturing, and marketing...

We study financial analysts’ recommendation when firms receive contentious shareholder-sponsored proposals on governance-related issues. We find that analysts’ stock recommendations in the month immediately prior to the annual meeting (at which shareholder voting on contested proxy proposals...