메뉴 건너뛰기




Volumn 23, Issue 6, 2015, Pages 472-488

Who withdraws shareholder proposals and does it matter? An analysis of sponsor identity and pay practices

Author keywords

Corporate governance; Institutional ownership; Private negotiations; Shareholder proposals

Indexed keywords


EID: 84947037850     PISSN: 09648410     EISSN: 14678683     Source Type: Journal    
DOI: 10.1111/corg.12109     Document Type: Article
Times cited : (55)

References (38)
  • 1
    • 77958553209 scopus 로고    scopus 로고
    • The "Wall Street Walk" and shareholder activism: Exit as a form of voice
    • Admati, A. R. & Pfleiderer, P. 2009. The "Wall Street Walk" and shareholder activism: Exit as a form of voice. Review of Financial Studies, 22: 2645-2685.
    • (2009) Review of Financial Studies , vol.22 , pp. 2645-2685
    • Admati, A.R.1    Pfleiderer, P.2
  • 2
    • 84055190455 scopus 로고    scopus 로고
    • Corporate governance objectives of labor union shareholders: Evidence from proxy voting
    • Agrawal, A. K. 2012. Corporate governance objectives of labor union shareholders: Evidence from proxy voting. Review of Financial Studies, 25: 187-226.
    • (2012) Review of Financial Studies , vol.25 , pp. 187-226
    • Agrawal, A.K.1
  • 3
    • 84865406103 scopus 로고    scopus 로고
    • Do pension-related business ties influence mutual fund proxy voting? Evidence from shareholder proposals on executive compensation
    • Ashraf, R., Jayaraman, N., & Ryan H. E., Jr. 2012. Do pension-related business ties influence mutual fund proxy voting? Evidence from shareholder proposals on executive compensation. Journal of Financial and Quantitative Analysis, 47: 567-588.
    • (2012) Journal of Financial and Quantitative Analysis , vol.47 , pp. 567-588
    • Ashraf, R.1    Jayaraman, N.2    Ryan, H.E.3
  • 4
    • 84947038991 scopus 로고    scopus 로고
    • Industry competition, ownership structure and shareholder activism. ECCE Working Paper, Maastricht University.
    • Bauer, R., Braun, R., & Viehs, M. 2010. Industry competition, ownership structure and shareholder activism. ECCE Working Paper, Maastricht University.
    • (2010)
    • Bauer, R.1    Braun, R.2    Viehs, M.3
  • 5
    • 84950133812 scopus 로고    scopus 로고
    • The geography of shareholder engagement: Evidence from a British institutional investor. ECCE Working Paper, Maastricht University and University of Oxford.
    • Bauer, R., Clark, G. L., & Viehs, M. 2013. The geography of shareholder engagement: Evidence from a British institutional investor. ECCE Working Paper, Maastricht University and University of Oxford.
    • (2013)
    • Bauer, R.1    Clark, G.L.2    Viehs, M.3
  • 7
    • 47749145674 scopus 로고    scopus 로고
    • Hedge fund activism, corporate governance, and firm performance
    • Brav, A., Jiang, W., Partnoy, F., & Thomas, R. 2008. Hedge fund activism, corporate governance, and firm performance. Journal of Finance, 63: 1729-1775.
    • (2008) Journal of Finance , vol.63 , pp. 1729-1775
    • Brav, A.1    Jiang, W.2    Partnoy, F.3    Thomas, R.4
  • 8
    • 84869832911 scopus 로고    scopus 로고
    • Shareholder proposal rules and practice: Evidence from a comparison of the US and UK
    • Buchanan, B., Netter, J. M., Poulsen, A. B., & Yang, T. 2012. Shareholder proposal rules and practice: Evidence from a comparison of the US and UK. American Business Law Journal, 49: 739-803.
    • (2012) American Business Law Journal , vol.49 , pp. 739-803
    • Buchanan, B.1    Netter, J.M.2    Poulsen, A.B.3    Yang, T.4
  • 10
    • 0032116927 scopus 로고    scopus 로고
    • The influence of institutional investors on myopic R&D investment behavior
    • Bushee, B. J. 1998. The influence of institutional investors on myopic R&D investment behavior. The Accounting Review, 73: 305-333.
    • (1998) The Accounting Review , vol.73 , pp. 305-333
    • Bushee, B.J.1
  • 11
    • 0001151593 scopus 로고    scopus 로고
    • Do institutional investors prefer near-term earnings over long-run value?
    • Bushee, B. J. 2001. Do institutional investors prefer near-term earnings over long-run value? Contemporary Accounting Research, 18: 207-246.
    • (2001) Contemporary Accounting Research , vol.18 , pp. 207-246
    • Bushee, B.J.1
  • 12
    • 0034562599 scopus 로고    scopus 로고
    • Corporate disclosure practices, institutional investors, and stock return volatility
    • Bushee, B. J. & Noe, C. F. 2000. Corporate disclosure practices, institutional investors, and stock return volatility. Journal of Accounting Research, 38(Supplement): 171-202.
    • (2000) Journal of Accounting Research , vol.38 , pp. 171-202
    • Bushee, B.J.1    Noe, C.F.2
  • 13
    • 0039658576 scopus 로고    scopus 로고
    • The influence of institutions on corporate governance through private negotiations: Evidence from TIAA-CREF
    • Carleton, W. T., Nelson, J. M., & Weisbach, M. S. 1998. The influence of institutions on corporate governance through private negotiations: Evidence from TIAA-CREF. Journal of Finance, 53: 1335-1362.
    • (1998) Journal of Finance , vol.53 , pp. 1335-1362
    • Carleton, W.T.1    Nelson, J.M.2    Weisbach, M.S.3
  • 14
    • 84947020119 scopus 로고    scopus 로고
    • The role of negotiations in corporate governance: Evidence from withdrawn shareholder-initiated proposals
    • Chidambaran, N. K. & Woidtke, T. 1999. The role of negotiations in corporate governance: Evidence from withdrawn shareholder-initiated proposals. Working Paper, New York University.
    • (1999) Working Paper, New York University.
    • Chidambaran, N.K.1    Woidtke, T.2
  • 15
    • 34447639780 scopus 로고    scopus 로고
    • Business ties and proxy voting by mutual funds
    • Davis, G. F. & Kim, E. H. 2007. Business ties and proxy voting by mutual funds. Journal of Financial Economics, 85: 552-570.
    • (2007) Journal of Financial Economics , vol.85 , pp. 552-570
    • Davis, G.F.1    Kim, E.H.2
  • 16
    • 84901589359 scopus 로고    scopus 로고
    • Active ownership. Working Paper, London Business School, Boston College, and Temple University.
    • Dimson, E., Karakas, O., & Li, X. 2014. Active ownership. Working Paper, London Business School, Boston College, and Temple University.
    • (2014)
    • Dimson, E.1    Karakas, O.2    Li, X.3
  • 17
    • 69949093231 scopus 로고    scopus 로고
    • Blockholder trading, market efficiency, and managerial myopia
    • Edmans, A. 2009. Blockholder trading, market efficiency, and managerial myopia. The Journal of Finance, 64: 2481-2513.
    • (2009) The Journal of Finance , vol.64 , pp. 2481-2513
    • Edmans, A.1
  • 19
    • 71349086945 scopus 로고    scopus 로고
    • Board of directors' responsiveness to shareholders: Evidence from shareholder proposals
    • Ertimur, Y., Ferri, F., & Stubben, S. R. 2010. Board of directors' responsiveness to shareholders: Evidence from shareholder proposals. Journal of Corporate Finance, 16: 53-72.
    • (2010) Journal of Corporate Finance , vol.16 , pp. 53-72
    • Ertimur, Y.1    Ferri, F.2    Stubben, S.R.3
  • 20
    • 84916883401 scopus 로고    scopus 로고
    • Dividend policy, managerial ownership and debt financing: A non-parametric perspective
    • Florackis, C., Kanas, A., & Kostakis, A. 2015. Dividend policy, managerial ownership and debt financing: A non-parametric perspective. European Journal of Operational Research, 241: 783-795.
    • (2015) European Journal of Operational Research , vol.241 , pp. 783-795
    • Florackis, C.1    Kanas, A.2    Kostakis, A.3
  • 22
    • 0000353081 scopus 로고    scopus 로고
    • Corporate governance proposals and shareholder activism: The role of institutional investors
    • Gillan, S. L. & Starks, L. T. 2000. Corporate governance proposals and shareholder activism: The role of institutional investors. Journal of Financial Economics, 57: 275-305.
    • (2000) Journal of Financial Economics , vol.57 , pp. 275-305
    • Gillan, S.L.1    Starks, L.T.2
  • 23
    • 46049089905 scopus 로고    scopus 로고
    • The evolution of shareholder activism in the United States
    • Gillan, S. L. & Starks, L. T. 2007. The evolution of shareholder activism in the United States. Journal of Applied Corporate Finance, 19: 55-73.
    • (2007) Journal of Applied Corporate Finance , vol.19 , pp. 55-73
    • Gillan, S.L.1    Starks, L.T.2
  • 24
    • 84993911479 scopus 로고
    • Information, ownership structure, and shareholder voting: Evidence from shareholder-sponsored corporate governance proposals
    • Gordon, L. A. & Pound, J. 1993. Information, ownership structure, and shareholder voting: Evidence from shareholder-sponsored corporate governance proposals. The Journal of Finance, 48: 697-718.
    • (1993) The Journal of Finance , vol.48 , pp. 697-718
    • Gordon, L.A.1    Pound, J.2
  • 26
  • 27
    • 58849146609 scopus 로고    scopus 로고
    • Entrepreneurial shareholder activism: Hedge funds and other private investors
    • Klein, A. & Zur, E. 2009. Entrepreneurial shareholder activism: Hedge funds and other private investors. The Journal of Finance, 64: 187-229.
    • (2009) The Journal of Finance , vol.64 , pp. 187-229
    • Klein, A.1    Zur, E.2
  • 31
    • 33645896609 scopus 로고
    • Management ownership and market valuation: An empirical analysis
    • Morck, R., Shleifer, A., & Vishny, R. W. 1988. Management ownership and market valuation: An empirical analysis. Journal of Financial Economics, 20: 293-315.
    • (1988) Journal of Financial Economics , vol.20 , pp. 293-315
    • Morck, R.1    Shleifer, A.2    Vishny, R.W.3
  • 32
    • 0039604286 scopus 로고    scopus 로고
    • Of what value are shareholder proposals sponsored by public pension funds?
    • Prevost, A. K. & Rao, R. P. 2000. Of what value are shareholder proposals sponsored by public pension funds? Journal of Business, 73: 177-204.
    • (2000) Journal of Business , vol.73 , pp. 177-204
    • Prevost, A.K.1    Rao, R.P.2
  • 33
    • 84859490260 scopus 로고    scopus 로고
    • Labor unions as shareholder activists: Champions or detractors?
    • Prevost, A. K., Rao, R. P., & Williams, M. A. 2009. Labor unions as shareholder activists: Champions or detractors? The Financial Review, 47: 327-349.
    • (2009) The Financial Review , vol.47 , pp. 327-349
    • Prevost, A.K.1    Rao, R.P.2    Williams, M.A.3
  • 34
    • 78649943148 scopus 로고    scopus 로고
    • The role of shareholder proposals in corporate governance
    • Renneboog, L. & Szilagyi, P. G. 2011. The role of shareholder proposals in corporate governance. Journal of Corporate Finance, 17: 167-188.
    • (2011) Journal of Corporate Finance , vol.17 , pp. 167-188
    • Renneboog, L.1    Szilagyi, P.G.2
  • 36
    • 0039120739 scopus 로고    scopus 로고
    • Shareholder activism by institutional investors: Evidence from CalPERS
    • Smith, M. P. 1996. Shareholder activism by institutional investors: Evidence from CalPERS. The Journal of Finance, 51: 227-252.
    • (1996) The Journal of Finance , vol.51 , pp. 227-252
    • Smith, M.P.1
  • 37
    • 22844457288 scopus 로고    scopus 로고
    • The effect of shareholder proposals on executive compensation
    • Thomas, R. S. & Martin, K. J. 1999. The effect of shareholder proposals on executive compensation. University of Cincinnati Law Review, 67: 1021-1081.
    • (1999) University of Cincinnati Law Review , vol.67 , pp. 1021-1081
    • Thomas, R.S.1    Martin, K.J.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.