Proxy advisors as gatekeepers of shareholder dissent: A cross-national investigation of influence and effectiveness

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...

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Bibliographic Details
Main Authors: Sauerwald, S., Van Oosterhout, H., Van Essen, M., Peng, Mike
Format: Conference Paper
Published: 2015
Online Access:http://hdl.handle.net/20.500.11937/56051

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