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This paper studies how managers react to shareholder empowerment that makes the votes on shareholder proposals regarding majority-voting director...
Universal owners - large institutional investors with highly diversified and long-term portfolios spanning the entire global capital market - have...
Journal of Finance, 75 (5), 2591-2629
Journal of Financial Economics, 133 (3), 589-607
The Review of Corporate Finance Studies, Volume 3, Issue 1-2, Pages 87–122
This paper estimates the effects of Say-on-Pay (SoP); a policy that increases shareholder "voice" by providing shareholders with a regular vote on...
We develop a dynamic industry model where financing frictions affect the entry decisions of new firms in the home market, as well as the riskiness of...
