Shareholders

Working Paper

International Evidence on Firm Level Decisions in Response to the Crisis: Shareholders vs. Other Stakeholders

The relationship between changes in GDP and unemployment during the 2008 financial crisis differed significantly from previous experiences and across countries. We study firm-level decisions in France, Germany, Japan, the UK, and the US. We find...Read more

Franklin Allen
Yaniv Grinstein
23 March 2018

The Costs and Benefits of Shareholder Democracy: Gadflies and Low-Cost Activism

We show that there is cross-sectional variation in the quality of shareholder proposals. On average, the proposals submitted by the most active individual sponsors are less likely to be supported by a majority of votes, but they may pass if...Read more

Nickolay Gantchev
Mariassunta Giannetti
20 December 2018

Pages