Contesting corporate control: shareholder voting

Maggie Foley, Robert Boylan, Chengru Hu and Biqing Huang

International Journal of Corporate Governance, 2013, vol. 4, issue 2, 119-137

Abstract: In this study we examine the outcome of shareholder proposals and focus on the factors leading to a majority vote. Our findings include: 1) the issues of a proposal play a significant role in determining whether or not the proposal achieves majority shareholder support; 2) ownership structure plays a significant role in the occurrence of a majority vote proposal; 3) most importantly, Institutional Shareholder Services (ISS) recommendations can significantly influence how shareholders vote. When a shareholder proposal which is opposed by management, receives a positive ISS recommendation, this proposal is far more likely to achieve majority shareholder support.

Keywords: shareholder proposals; corporate governance; financial services; shareholder voting; majority vote; ownership structure; institutional shareholder services; shareholder support. (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=55756 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijcgov:v:4:y:2013:i:2:p:119-137

Access Statistics for this article

More articles in International Journal of Corporate Governance from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().