Executive compensation: A survey of theory and evidence
This paper reviews the theoretical and empirical literature on executive compensation. We
start by presenting data on the level of CEO and other top executive pay over time and …
start by presenting data on the level of CEO and other top executive pay over time and …
Thirty years of shareholder activism: A survey of empirical research
MR Denes, JM Karpoff, VB McWilliams - Journal of Corporate Finance, 2017 - Elsevier
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 for targeted firms, and draw two primary conclusions. First, activism that …
The illusory promise of stakeholder governance
LA Bebchuk, R Tallarita - Cornell L. Rev., 2020 - HeinOnline
There are growing concerns about the adverse effects that corporations impose on
stakeholders. By stakeholders we refer throughout this Article to all non-shareholder …
stakeholders. By stakeholders we refer throughout this Article to all non-shareholder …
Connecting the dots: Bringing external corporate governance into the corporate governance puzzle
Corporate governance (CG) research has largely focused on internal governance
mechanisms (ie the board of directors, controlling owners, and managerial incentives) …
mechanisms (ie the board of directors, controlling owners, and managerial incentives) …
Active ownership
We analyze an extensive proprietary database of corporate social responsibility
engagements with US public companies from 1999–2009. Engagements address …
engagements with US public companies from 1999–2009. Engagements address …
Do index funds monitor?
Passively managed index funds now hold over 30 of US equity fund assets; this shift raises
fundamental questions about monitoring and governance. We show that, relative to active …
fundamental questions about monitoring and governance. We show that, relative to active …
Shareholder activism: A multidisciplinary review
M Goranova, LV Ryan - Journal of Management, 2014 - journals.sagepub.com
Shareholder activism has become a dynamic institutional force, and its associated, rapidly
increasing body of scholarly literature affects numerous disciplines within the organization …
increasing body of scholarly literature affects numerous disciplines within the organization …
The role of proxy advisory firms: Evidence from a regression-discontinuity design
Proxy advisory firms have become important players in corporate governance, but the extent
of their influence over shareholder votes is debated. We estimate the effect of Institutional …
of their influence over shareholder votes is debated. We estimate the effect of Institutional …
Shareholder votes and proxy advisors: Evidence from say on pay
We investigate the economic role of proxy advisors (PAs) in the context of mandatory “say on
pay” votes, a novel and complex item requiring significant firm‐specific analysis. PAs are …
pay” votes, a novel and complex item requiring significant firm‐specific analysis. PAs are …
Do long-term investors improve corporate decision making?
We study the effect of investor horizons on a comprehensive set of corporate decisions. We
argue that monitoring by long-term investors generates decision making that maximizes …
argue that monitoring by long-term investors generates decision making that maximizes …