Showing 21 - 30 of 187,821
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
Shareholder activism has sharply increased over the past decade and spread both across countries and among different types of investors. Today, 50% of all engagements occur outside North America, with non-hedge fund investors accounting for one-third of all engagements. We investigate the...
Persistent link: https://www.econbiz.de/10013241045
We study the global corporate engagement activities of a large UK-based asset manager from 2006 to 2011. Using proprietary data on these activities, we find that corporate engagements “behind-the-scenes” are frequently used to change corporate behavior. We show that geography is an important...
Persistent link: https://www.econbiz.de/10013063977
minority equity stakes and do not seek direct control. As a result, activists must win support from fellow shareholders via … shareholders, other stakeholders, and the capital market as a whole. Opponents of hedge fund activism argue that activists focus …-term performance, including productivity, innovation, and governance.Overall, the evidence from the full body of the literature …
Persistent link: https://www.econbiz.de/10013322470
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
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 I construct a novel dataset of excluded and withdrawn proposals from the Securities and Exchange Commission's responses to managers' exclusion requests.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
This paper examines the impact of controlling shareholders' stock pledge on institutional shareholding using the sample … of Chinese listed firms. Stock pledge means shareholders use stock of listed firms as the pledged assets to apply for … shareholders' stock pledge decreases institutional shareholding significantly and such relation is more remarkable in the subsample …
Persistent link: https://www.econbiz.de/10012949666
We construct a novel data set to show that, between 2003-2020, up to one-fifth of America's largest firms had a non-financial blockholder or insider as their largest shareholder. Blockholders and insiders tend to be less diversified than institutional investors. Measures of "universal" and...
Persistent link: https://www.econbiz.de/10013365123
This paper compares the extent of common ownership in the US and the EU stock markets, with a particular focus on differences in the ap-plicable ownership transparency requirements. Most empirical research on common ownership to date has focused on US issuers, largely relying on ownership data...
Persistent link: https://www.econbiz.de/10013402996
There are two main sources of confusion in the public corporate governance debate. One is the confusion about the role of public policy intervention. The other is a lack of empirical knowledge about the corporate landscape where rules are supposed to be implemented and the functioning of...
Persistent link: https://www.econbiz.de/10009775539