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 …

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 …

There are growing concerns about the adverse effects that corporations impose on
stakeholders. By stakeholders we refer throughout this Article to all non-shareholder …

Corporate governance (CG) research has largely focused on internal governance
mechanisms (ie the board of directors, controlling owners, and managerial incentives) …

We analyze an extensive proprietary database of corporate social responsibility
engagements with US public companies from 1999–2009. Engagements address …

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 …

Shareholder activism has become a dynamic institutional force, and its associated, rapidly
increasing body of scholarly literature affects numerous disciplines within the organization …

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 …

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 …

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 …