Voting

Working Paper

The Disappearing Taboo of Multiple Voting Shares: Regulatory Responses to the Migration of Chrysler-Fiat

In 2014, the Italian Government broke an old taboo of Italian corporate law, joining the ranks of many different legal systems that allow the issuance of multiple voting shares (MVSs), including the United States. The importance of the reform is...Read more

Marco Ventoruzzo
01 March 2015

Changing Corporate Governance Norms: Evidence from Dual Class Shares in the U.K.

In the U.K., between 1955 and 1970, dual class shares quickly lost popularity without any regulatory intervention. The decline in the use of dual class shares was positively correlated with the relative valuations of one-share-one-vote and dual...Read more

Fabio Braggion
Mariassunta Giannetti
01 July 2013

The Evolution of Shareholder Voting Rights: Separation of Ownership and Consumption

The nineteenth century saw the standardization and rapid spread of the modern business corporation around the world. Yet those early corporations differed from their contemporary counterparts in important ways. Most obviously, they commonly...Read more

Henry Hansmann
Mariana Pargendler
01 February 2013

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