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Shareholder litigation has been heavily criticized for its inability to compensate harmed shareholders or deter … approach. I propose allowing shareholders to enforce charter and bylaw provisions that require arbitration of certain disputes …. For example, an acquisitive company may require arbitration of merger-related suits, while allowing non-merger suits to …
Persistent link: https://www.econbiz.de/10013067099
overwhelmingly prefer “long-term shareholders” to “short-term shareholders.” There is little rigorous research, however, that …
Persistent link: https://www.econbiz.de/10013049830
-authored writings with Frank Easterbrook. The key point is the assertion that corporate management is the agent of the shareholders … idea that shareholders hold a privileged position within the corporation's governance structure, enjoying a monopoly over … of fiduciary duties as being owed to 'the corporation and its shareholders.' In this sense, shareholders enjoy primacy …
Persistent link: https://www.econbiz.de/10013050080
mechanism to monitor management and are instrumental in mitigating the agency conflict between managers and shareholders. We … detrimental to the long term interests of companies and their long term shareholders. Moreover, our findings suggest that hedge … funds generate substantial long term value for target firms and its long term shareholders when they function as a …
Persistent link: https://www.econbiz.de/10013052574
Sustainable Companies Agenda. It suggests that affording greater power to shareholders and encouraging greater engagement may not … advance the Agenda unless shareholders anticipate a direct personal financial benefit. The article also raises the possibility … that such a policy could impede progress by the adoption by shareholders of a short-termist approach to the company …
Persistent link: https://www.econbiz.de/10013054852
Several formal proposals have been made to address shareholder short-termism and speculative behavior. These include the imposition of a financial transaction tax, changes to the U.S. capital gains tax rate, and the adoption of an Investor Stewardship Code in the United Kingdom. This Article...
Persistent link: https://www.econbiz.de/10013055748
companies, I found that gradually more and more shareholders, and not only institutional shareholders, vote in absentia. While a … controlling shareholder continues to participate and vote in the general meeting in personam, other large shareholders, including … institutional investors, make use of the technique of remote voting. Next, a decreasing group of shareholders with very small stakes …
Persistent link: https://www.econbiz.de/10012894010
the voting rights. Reversing the ordinary balance of powers between minority and majority shareholders can bring about a … such a situation, the monitoring role to be played by institutional shareholders is bound to be pivotal. This Article warns …
Persistent link: https://www.econbiz.de/10012895898
the voting rights. Reversing the ordinary balance of powers between minority and majority shareholders can bring about a … such a situation, the monitoring role to be played by institutional shareholders is bound to be pivotal. This Article warns …
Persistent link: https://www.econbiz.de/10012897748
rather than its merits. The ultimate shareholder primacy norm is that directors are agents of shareholders, and that … directors are under fundamental obligation to run the company in the interest of the shareholders. This article finds that … directors owed no such legal obligation to shareholders, that the confusion was based on the historical application of …
Persistent link: https://www.econbiz.de/10013058456