We summarize and synthesize the results from 73 studies that examine the consequences of
shareholder activism for targeted firms, and draw two primary conclusions. First, activism that …

Shareholder activism in the Untied States is by no means a new phenomenon. In the early
1900s, American financial institutions such as insurance companies, mutual funds, and …

We study 134 vote-no campaigns and 1,198 shareholder proposals related to executive pay
between 1997 and 2007. Union pension funds sponsor most of these initiatives, yet their …

We examine the impact of unionization on firms' tax aggressiveness. We find a negative
association between firms' tax aggressiveness and union power and a decrease in tax …

This paper examines the corporate governance role of shareholder-initiated proxy
proposals. We find that target firms tend to underperform and have generally poor …

Labor union pension funds have become increasingly vocal in governance matters;
however, their motives are subject to fierce debate. I examine the proxy votes of AFL-CIO …

This paper is the first to investigate the corporate governance role of shareholder‐initiated
proxy proposals in European firms. Proposal submissions in Europe remain infrequent …

This paper investigates whether labor unions use proposals opportunistically to influence
contract negotiations. Our empirical strategy relies on the observation that proposals have …

We investigate whether and, if so, how stakeholder orientation affects the value of cash
holdings by disciplining inefficient management and reducing agency costs. In so doing, we …

This paper studies Securities and Exchange Commission (SEC) no-action-letter decisions
that determine whether companies can exclude shareholder proposals from their proxy …