Institutional investors are often criticized for their insufficient \u201cengagement\u201dwith listed companies. Actually, information and other transaction costs limit their capacity to actively monitor investee firms, and to engage with their management. A partial solution is offered by Proxy Advisors (PAs), providing proxy voting services on a subscription basis. We use Say-On-Pay (SOP) in Italian listed firms to investigate PA activity and (institutional) shareholder voting behavior. Making use of a unique dataset, including information on how each shareholder voted in 2012, we analyze the behavior of different classes of shareholders and their relation with PA recommendations. Our main results can be summarized as follows: i) while sha...
This paper examines the economic consequences of institutional investors outsourcing research and vo...
Proxy advisors are information intermediaries that provide voting recommendations to shareholders. D...
Purpose of the paper: Recent research identifies a troubling number of institutional investors that ...
Institutional investors are often criticized for their insufficient “engagement”with listed companie...
Where corporate ownership is concentrated, the incentives for institutional shareholders to engage w...
We investigate the economic role of proxy advisors (PAs) in the context of mandatory “say on pay” vo...
Proxy advisors are information intermediaries that enable shareholders to exercise their voting righ...
Proxy advisors are information intermediaries that enable shareholders to exercise their voting righ...
Proxy advisors are information intermediaries that enable shareholders to exercise their voting righ...
Proxy advisors are information intermediaries that enable shareholders to exercise their voting righ...
Recent regulatory changes increasing shareholder voting authority have focused attention on the role...
Recent regulatory changes increasing shareholder voting authority have focused attention on the role...
Recent regulatory changes increasing shareholder voting authority have focused attention on the role...
Using a dataset of proxy recommendations and voting results for uncontested director elections from ...
This paper examines the economic consequences of institutional investors outsourcing research and vo...
This paper examines the economic consequences of institutional investors outsourcing research and vo...
Proxy advisors are information intermediaries that provide voting recommendations to shareholders. D...
Purpose of the paper: Recent research identifies a troubling number of institutional investors that ...
Institutional investors are often criticized for their insufficient “engagement”with listed companie...
Where corporate ownership is concentrated, the incentives for institutional shareholders to engage w...
We investigate the economic role of proxy advisors (PAs) in the context of mandatory “say on pay” vo...
Proxy advisors are information intermediaries that enable shareholders to exercise their voting righ...
Proxy advisors are information intermediaries that enable shareholders to exercise their voting righ...
Proxy advisors are information intermediaries that enable shareholders to exercise their voting righ...
Proxy advisors are information intermediaries that enable shareholders to exercise their voting righ...
Recent regulatory changes increasing shareholder voting authority have focused attention on the role...
Recent regulatory changes increasing shareholder voting authority have focused attention on the role...
Recent regulatory changes increasing shareholder voting authority have focused attention on the role...
Using a dataset of proxy recommendations and voting results for uncontested director elections from ...
This paper examines the economic consequences of institutional investors outsourcing research and vo...
This paper examines the economic consequences of institutional investors outsourcing research and vo...
Proxy advisors are information intermediaries that provide voting recommendations to shareholders. D...
Purpose of the paper: Recent research identifies a troubling number of institutional investors that ...