Boylan, Robert and Cebula, Richard and Foley, Maggie and Liu, Xiaowei (2013): An Analysis of Omitted Shareholder Proposals. Published in: Journal of Finance and Accountancy , Vol. 17, No. 1 (13 June 2014): pp. 1-16.
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Abstract
We intend to reveal the causes and the determinants of the omitted shareholder proposals. We find that individual investors are mostly likely to submit a proposal being excluded from the proxy ballot. Since individual investors are not so skillful as institutional investors, we summarize that shareholder proposals are excluded mainly due to sponsors’ lack of experience and knowledge, rather than as a self-serving vehicle for shareholder activists to gain bargaining power or to simply annoy management. We also find that most shareholder proposals are omitted because they deal with a matter relating to the company’s ordinary business operations.
Item Type: | MPRA Paper |
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Original Title: | An Analysis of Omitted Shareholder Proposals |
English Title: | An Analysis of Omitted Shareholder Proposals |
Language: | English |
Keywords: | corporate governance; SEC Rule 14a; omitted shareholder proposals |
Subjects: | G - Financial Economics > G3 - Corporate Finance and Governance > G30 - General G - Financial Economics > G3 - Corporate Finance and Governance > G34 - Mergers ; Acquisitions ; Restructuring ; Corporate Governance K - Law and Economics > K2 - Regulation and Business Law > K22 - Business and Securities Law |
Item ID: | 56659 |
Depositing User: | Richard Cebula |
Date Deposited: | 18 Jun 2014 00:14 |
Last Modified: | 26 Sep 2019 22:03 |
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URI: | https://mpra.ub.uni-muenchen.de/id/eprint/56659 |