This study investigated companies publicly listed in Taiwan from 2002 to 2010 to examine whether independent directors improve the quality of earnings and analyzed whether the control rights of a controlling shareholder mitigate the impact of independent directors on earnings quality. Empirical...

The article proposes the implementation of the RIVI (“Retail Investor Voting Instructions”) to mobilize retail investors to vote in corporate elections. The author argues that current retail-investor voting has an adverse effect on our capital markets because it is uninformed. In this...

Current attempts to reform financial markets presume that shareholder empowerment benefits shareholders. We investigate the wealth effects associated with the SEC's rule to facilitate director nominations by shareholders. Our results are not in line with shareholder empowerment creating value:...

The European Shareholder Rights Directive provides shareholders the right to ask questions related to the items on the agenda. The company can refuse to answer the questions in a limited number of cases. After a brief historical and European view, the second part of the paper assesses the...

This paper is the third chapter of the third edition of The Anatomy of Corporate Law: A Comparative and Functional Approach, by Reinier Kraakman, John Armour, Paul Davies, Luca Enriques, Henry Hansmann, Gerard Hertig, Klaus Hopt, Hideki Kanda Mariana Pargendler, Georg Ringe, and Edward Rock...

In contrast to popular belief, this paper shows that there does not exist an unambiguous positive relationship between an unbiased shareholder's voting power and the quality of corporate governance. I utilize a 2010 NYSE policy change that increased shareholders' voting power in uncontested...

As one of the channels by which board directors build important relationships, board networks can affect the governance role of independent directors. Defining director board networks as their connections based on direct ties they establish when serving on at least one common board, this paper...