publication . Article . Other literature type . Part of book or chapter of book . 2013

Institutional Investors as Minority Shareholders

Assaf Hamdani; Yishay Yafeh;
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  • Published: 01 Apr 2013 Journal: SSRN Electronic Journal (eissn: 1556-5068, Copyright policy)
  • Publisher: Elsevier BV
Abstract
We examine the link between minority shareholders' rights and corporate governance by studying institutional investors' voting patterns in a concentrated ownership environment. Institutions rarely vote against insider-sponsored proposals even when the law empowers the minority. Institutions vote against compensation-related proposals more often than against related party transactions even when minority shareholders cannot influence outcomes. Potentially conflicted institutions are more likely to vote for insiders' proposals than stand-alone investors, regardless of their effect on outcomes. A plausible conclusion is that empowering minority shareholders affects ...
Subjects
free text keywords: Shareholder, Accounting, business.industry, business, Emerging markets, Voting, media_common.quotation_subject, media_common, Corporate law, Corporate governance, Institutional investor, Economics, Shareholder resolution, Finance
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Review of Finance
Article . 2012
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Part of book or chapter of book . 2019
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http://dx.doi.org/10.1093/rof/...
Other literature type . 2013
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