shareholder voting

The elimination of broker voting in director elections
In 2009, the Securities and Exchange Commission (SEC) reformed shareholder voting by eliminating uninstructed broker voting in director elections. We use this reform as a quasi-natural experiment to assess the value of shareholder empowerment. Using different control groups and various cross-sectional tests, we find that the reform did not increase average equity values.
Ali C. Akyol, Konrad Raff, Patrick Verwijmeren
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The elimination of broker voting in director elections