Shareholder democracy in play: Career consequences of proxy contests ☆
Abstract
null null This paper shows that proxy contests have a significant adverse effect on careers of incumbent directors. Following a proxy contest, directors experience a significant decline in the number of directorships not only in the targeted company, but also in other nontargeted companies. The results are established using the universe of all proxy contests during 1996–2010. To isolate the effect of the proxy contest, our empirical strategy...
Paper Details
Title
Shareholder democracy in play: Career consequences of proxy contests ☆
Published Date
Nov 1, 2014
Volume
114
Issue
2
Pages
316 - 340
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