Institutional Shareholder Voting - Publications - Faculty & Research

December 2024
Article

Proxy Advisory Firms and Corporate Shareholder Engagement

By: Aiyesha Dey, Austin Starkweather and Joshua White

We study how Institutional Shareholder Services (ISS) affect firms’ engagement with shareholders. Our analyses exploit a quasi-natural experiment using say-on-pay voting outcomes near a threshold that triggers ISS to review engagement activities. Firms receiving ISS... View Details

Keywords: Business and Shareholder Relations; Governing and Advisory Boards; Policy; Voting

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2017
Working Paper

What Else Do Shareholders Want? Shareholder Proposals Contested by Firm Management

By: Eugene F. Soltes, Suraj Srinivasan and Rajesh Vijayaraghavan

Shareholder proposals provide investors an opportunity to exercise their decision rights within firms, but managers can seek permission from the Securities and Exchange Commission (SEC) to dismiss proposals. We find that managers seek to exclude 39% of all proposals... View Details

Keywords: Voting; Business and Shareholder Relations

Citation

SSRN

May 2017
Article

Distracted Shareholders and Corporate Actions

By: Elisabeth Kempf, Alberto Manconi and Oliver Spalt

Investor attention matters for corporate actions. Our new identification approach constructs firm-level shareholder "distraction" measures, by exploiting exogenous shocks to unrelated parts of institutional shareholders' portfolios. Firms with "distracted" shareholders... View Details

Keywords: Investors; Business and Shareholder Relations; Executive Compensation; Stocks; Mergers and Acquisitions

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02 Nov 2009
Research & Ideas

Shareholders Need a Say on Pay

particular tool put forward in reforms is the idea of "say on pay," which gives shareholders a non-binding vote on executive compensation and severance packages. The Obama administration has... View Details

Keywords: by Julia Hanna; Financial Services

27 Oct 2020
News

HBS Votes

2001), a founding member of Leadership Now, formed the Election Support Corps, a partnership between Leadership Now and the National Vote at Home Institute (VAH) to support the safety and security of the... View Details

18 Jun 2017
News

Meet the Legislation Designed to Stifle Shareholders

06 Jun 2016
News

Shareholder Proposals Contested by Firm Management

12 May 2009
News

Schumer's Shareholder Bill Misses the Mark

summer 1992
Article

Shareholder Trading Practices and Corporate Investment Horizons

By: Kenneth A. Froot, André Perold and J. Stein

Keywords: Institutional Investing; Market Efficiency; Behavioral Finance; Equities; Stock Market; Indexing; Financial Markets; Asset Pricing

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2024
Working Paper

Voting Rules, Turnout, and Economic Policies

By: Enrico Cantoni, Vincent Pons and Jérôme Schäfer

In recent years, voter ID laws and convenience voting have generated heated partisan debates. To shed light on these policy issues, we survey the recent evidence on the institutional determinants and effects of voter turnout and broaden the perspective beyond the most... View Details

Keywords: Voting; Political Elections; Policy

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04 Mar 2014
Working Paper Summaries

Consequences to Directors of Shareholder Activism

Keywords: by Ian D. Gow, Sa-Pyung Sean Shin & Suraj Srinivasan

August 2015 (Revised September 2015)
Case

Shareholder Activists and Corporate Strategy

By: David Collis and Ashley Hartman

By 2015, there had been an upsurge in activist shareholders arguing for radical changes in companies' corporate strategies. Personalities like Carl Icahn, Bill Ackman, and Daniel Loeb were feared and loathed in some quarters, celebrated in others. With nearly $120... View Details

Keywords: Scope; Activist Investors; Spin-offs; Synergy; Diversification; Consolidation; Hedge Fund; Corporate Strategy

Citation

Educators

Purchase

2012
Other Unpublished Work

The Efficacy of Shareholder Voting: Evidence from Equity Compensation Plans

By: Ian D. Gow, Christopher S. Armstrong and David F. Larcker

This study examines the effects of shareholder support for equity compensation plans on subsequent chief executive officer (CEO) compensation. Using cross-sectional regression, instrumental variable, and regression discontinuity research designs, we find little... View Details

Keywords: Voting; Equity; Executive Compensation; Rights; Performance Effectiveness; Business and Shareholder Relations; Mathematical Methods; Motivation and Incentives

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Awards

European Financial Management 2021 Best Paper Award: Editors Vote

By: Charles C.Y. Wang

Winner of the European Financial Management (EFM) 2021 Best Paper Award: Editors Vote for "Short-Termism, Shareholder Payouts, and Investment in the EU" (June 2021) with Jesse M. Fried. View Details

03 Mar 2015
News

Shareholders Get a Louder Voice As Companies Become More Democratic

27 May 2019
Working Paper Summaries

Voting Trusts and Antitrust: Rethinking the Role of Shareholder Rights and Private Litigation in Public Regulation, 1880s to 1930s

Keywords: by Naomi R. Lamoreaux and Laura Phillips Sawyer

28 Apr 2003
Research & Ideas

Shareholders Key to Corporate Reform

voting information accumulates, shareholder organizations such as Institutional Shareholder Services could use the balloting data to create... View Details

Keywords: by Cynthia A. Montgomery & Rhonda Kaufman

Article

Laws versus Contracts: Legal Origins, Shareholder Protections, and Ownership Concentration in Brazil, 1890–1950

By: Aldo Musacchio

This article examines some of the institutional conditions that facilitated the development of equity markets in Brazil. A critical factor was the addition of protections for investors to corporate bylaws, which enabled relatively large corporations in Brazil to... View Details

Keywords: Voting; Equity; Financial Markets; Investment; Governance Controls; Business History; Ownership Stake; Brazil

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