Proxy advisors as gatekeepers of shareholder dissent: A cross-national investigation of influence and effectiveness
Proxy advisors are information intermediaries that provide voting recommendations to shareholders. Drawing on agency theory and the comparative corporate governance literature, we find that firm internal monitoring mechanisms substitute for proxy advice, and that proxy advice is less influential and...
| Main Authors: | , , , |
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| Format: | Conference Paper |
| Published: |
2015
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| Online Access: | http://hdl.handle.net/20.500.11937/56051 |