the information that shareholders would like to see in the “ideal” proxy statement. We ask:• What changes can companies …

which shareholders monitored and exercised voice to one where there was more reliance on external forces and exiting …

Large shareholders are a potentially very important element of firms’ corporate governance system. Whereas analytical … research is typically vague on who these large shareholders are, in practice there are important variations in the types of … shareholders in private (i.e., unlisted) firms, where ownership tends to be more concentrated than in publicly traded firms …

in restraining tunneling behavior by controlling shareholders in the Chinese capital market. Our empirical evidence shows … that tunneling behavior by controlling shareholders is negatively related to the network centrality of independent … shareholders, which plays a positive role in corporate governance. …

in Europe and Latin America, where several governments are large shareholders in a variety of public firms. In a sense …, the subprime crisis induced these governments to behave as active large shareholders. This paper uses a sample of public … firms in Brazil to show that government activism lowers the value of minority shareholders' voting rights. While the …