Management

Working Paper

Managerial Response to Shareholder Empowerment: Evidence from Majority Voting Legislation Changes

This paper studies how managers react to shareholder empowerment vis-à-vis governance provisions. We show that a staggered legislative change that increases noncompliance costs in the implementation of shareholder-initiated majority voting...Read more

Vicente Cuñat
Yiqing Lü
Hong Wu
08 August 2019

The Present and Future of Corporate Governance: Re-Examining the Role of the Board of Directors and Investor Relations in Listed Companies

In this paper, we first shed light on the factors that underlie the differences between the ?shareholder wealth maximization? and the ?long-term commitment? models of corporate governance. By introducing a third type of governance model, we show...Read more

Joseph McCahery
Erik Vermeulen
01 May 2013

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