Of what value are shareholder proposals sponsored by public pension funds?

Journal of Business

Volumn 73, Issue 2, 2000, Pages 177-204

  Prevost, Andrew K ^a   Rao, Ramesh P ^a  

^a NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0039604286     PISSN: 00219398     EISSN: None     Source Type: Journal    
DOI: 10.1086/209639     Document Type: Article

References (27)

1. Barber, B., and Lyon, J. 1996. Detecting abnormal operating performance: The empirical power and specification of test statistics. Journal of Financial Economics 41 (July): 359-99.
2. Barber, B., and Lyon, J. 1997. Detecting long-run abnormal stock returns: The empirical power and specification of test statistics. Journal of Financial Economics 43 (March): 341-72.
3. Bhagat, S. 1983. The effect of preemptive rights amendments on shareholder wealth. Journal of Financial Economics 12 (November): 289-310.
4. Bhagat, S., and Brickley, D. 1984. Cumulative voting: The value of minority shareholder voting rights. Journal of Law and Economics 27 (October): 339-66.
5. Black, B. 1990. Shareholder passivity reexamined. Michigan Law Review 89 (December): 520-607.
6. Boehmer, E.; Musumeci, J.; and Poulsen, A. 1991. Event-study methodology under conditions of event-induced variance. Journal of Financial Economics 30 (December): 253-72.
7. Carleton, W.; Nelson, J.; and Weisbach, M. 1998. The influence of institution on corporate governance through private negotiations: Evidence from TIAA-CREF. Journal of Finance 53 (August): 1335-62.
8. Center for Corporate Law. 1999. The securities lawyer's deskbook. http://www. law.uc.edu/CCL/34ActRls/rule14a-8.html.
9. Corrado, C. 1989. A nonparametric test for abnormal security-price performance in event studies. Journal of Financial Economics 23 (August): 385-95.
10. Cowan, A 1992. Nonparametric event study tests. Review of Quantitative Finance and Accounting 2 (Winter): 343-58.
11. Del Guercio, D., and Hawkins, J. 1999. The motivation and impact of pension fund activism. Journal of Financial Economics 52 (June): 293-340.
12. Gillan, S.; Kensinger, J.; and Martin, J. 1999. Value creation and corporate diversification: The case of Sears, Roebuck & Co. Journal of Financial Economics (in press).
13. Gillan, S., and Starks, L. 1998. Corporate governance proposals and shareholder activism: The role of institutional investors. Journal of Financial Economics (in press).
14. Gordon, L., and Pound, J. 1993. Information, ownership structure, and shareholder voting: Evidence from shareholder-sponsored corporate governance proposals. Journal of Finance 48 (June): 697-718.
15. Johnson, M.; Porter, S.; and Shackell, M. 1997. Stakeholder pressure and the structure of executive compensation. Working paper. Ann Arbor: University of Michigan.
16. Karpoff, J. 1998. Does shareholder activism work? A survey of empirical findings. Working paper. Seattle: University of Washington.
17. Karpoff, J.; Malatesta, P.; and Walkling, R. 1996. Corporate governance and shareholder initiatives: Empirical evidence. Journal of Financial Economics 42 (November): 365-95.
18. Opler, T., and Sokobin, J. 1998. Does coordinated institutional activism work? An analysis of the activities of the council of institutional investors. Working paper. Columbus: Ohio State University.
19. Pension and Investments Online. 1998. 1000 largest retirement funds. http://www. pionline.com/research/.
20. Rock, E. 1991. The logic and (uncertain) significance of institutional shareholder activism. Georgetown Law Journal 79 (February): 445-506.
21. Romano, R. 1993. Public pension fund activism in corporate governance reconsidered. Columbia Law Review 93 (May): 794-853.
22. Smith, M. 1996. Shareholder activism by institutional investors: Evidence from CalPERS. Journal of Finance 51 (March): 227-52.
23. Sommer, A., Jr. 1990. Corporate governance in the nineties. University of Cincinnati Law Review 59 (Fall): 357-83.
24. Strickland, D.; Wiles, K.; and Zenner, M. 1996. A requiem for the USA: Is small shareholder monitoring effective? Journal of Financial Economics 40 (February): 319-38.
25. Van Nuys, K. 1993. Corporate governance through the proxy process: Evidence from the 1989 Honeywell proxy solicitation. Journal of Financial Economics 34 (August): 101-32.
26. Wahal, S. 1996. Pension fund activism and firm performance. Journal of Quantitative and Financial Analysis 31 (March): 1-23.
27. Wohlstetter, C. 1993. Pension fund socialism: Can bureaucrats run the blue chips? Harvard Business Review 71 (January-February): 76-83.