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-staggered and staggered boards. We find that through voting, shareholders can increase the efficacy of the audit committee, leading …
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model that shows that when shareholders have direct access to proxy the quality of the board improves. This is so, because …'s). When the board can signal its type at a relative small cost, giving shareholders direct access to proxy is better than …
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The literature on shareholder voting has mostly focused on the influence of proxy advisors on shareholder votes. We exploit a unique empirical setting enabling us to provide a direct estimate of management's influence. Analyzing shareholder votes on the frequency of future say on pay votes, we...
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