Download or read book Cumulative Voting for Directors written by Charles Marvin Williams and published by . This book was released on 1951 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cumulative Voting for Directors written by Leland Carling Whetten and published by . This book was released on 1959 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cumulative Voting for Directors of Corporations written by Clyde P. Orr and published by . This book was released on 1953 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cumulative Voting for Directors in Missouri Corporations written by Karl F. Kraus and published by . This book was released on 1960 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Study of Majority Voting in Director Elections written by Claudia Harri Allen and published by . This book was released on 2006 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Does Mandating Cumulative Voting Weaken Controlling Shareholders written by Lauren Yu-Hsin Lin and published by . This book was released on 2017 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate scholars have long championed the use of mandatory cumulative voting in developing countries. Yet, in comparison to majority or plurality voting, we know very little about its effectiveness. Even though cumulative voting is allowed in most jurisdictions, in practice it is not widely used. Taiwan stands out as a unique jurisdiction which mandates cumulative voting on all companies. Therefore, Taiwan is the only jurisdiction, to the best of our knowledge, that can be used to test the causal effect of cumulative voting on director election. Taking advantage of an exogenous legal change that occurred in Taiwanese corporate law in December 2011, we use panel data on 640 publicly traded companies from 2001-2015 in a difference-in-differences framework to tease out the effect of cumulative voting. From 2001-2011, cumulative voting was the default rule, and 20 companies opted for majority voting. While directors and supervisors are elected every three years, not all companies change boards in the same year. Fixed-effect panel regression models show that in the 2012 election -- about six months after the legal reform -- the cumulative voting rule appears to have weakened the controlling shareholders' control of the companies that had previously opted for majority voting. The controlling shareholders' control in the 2013, 2014, and 2015 elections, however, did not decrease. The take-away lesson is that mandating cumulative voting may not create a long-term effect because controlling shareholders find other means to maintain influence. Policymakers should leave the governance decisions to the firm and focus on rules that could restrain private benefits of control and enhance transparency to rein in controlling shareholders.
Download or read book Cumulative Voting for National Bank Directors written by United States. Congress. House. Committee on Banking and Currency and published by . This book was released on 1956 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Board Member Nomination and Election written by OECD and published by OECD Publishing. This book was released on 2012-09-20 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report addresses the corporate governance framework and company practices that determine the nomination and election of board members. It covers some 26 jurisdictions including in-depth reviews of four jurisdictions: Indonesia, Korea, the Netherlands and the United States.
Download or read book Empowering Shareholders in Directors Elections written by Marco Ventoruzzo and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the last few years, also in the light of the financial crisis in which the world has plummeted, the concern for self-referential and unaccountable boards has gained momentum and prompted several important reforms aimed at enhancing shareholders' democracy. The reforms recently implemented or currently under consideration both at the state and federal levels, focusing on proxy access, might however prove to be too timid to exorcise this specter. This Article discusses the limits of the latest legislative and regulatory initiatives and advances a new, bold if not heterodox, proposal to empower shareholders and better align the composition of the board to the interests of all the owners of the corporation. The core of the proposal is a proportional voting system called "list voting." Building also on a brief comparative analysis, the Article advocates that "list voting" is superior to the traditional U.S. "cumulative voting" both from the point of view of directors, managers and controlling shareholders, and of minority shareholders.
Download or read book Study of Majority Voting in Director Elections written by Claudia H. Allen and published by . This book was released on 2015 with total page 461 pages. Available in PDF, EPUB and Kindle. Book excerpt: Study of Majority Voting in Director Elections analyzes the initial roll-out and rapid success of the movement to require that directors be elected by a majority vote, rather than a plurality. As documented in the Study, only 16% of the companies in the S&P 500 were known to have adopted some form of majority voting in February 2006. However, by November 2007, 66% of S&P 500 constituents and over 57% of the companies in the Fortune 500 had adopted a form of majority voting.The Study analyzes the types of provisions adopted (bylaw vs. policy), the language of each provision, the continuing evolution of that language, stockholder proposals seeking a majority vote standard, state enabling statutes, the industry breakdown of adopters, the influence of activism and proxy advisory services and the origins of the majority vote movement.A list of companies analyzed and charts illustrating key trends are included in the Study.
Download or read book Cummulative Voting for National BankDirectors written by United States Congress. House. Banking and Currency Committee and published by . This book was released on 1956 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Majority Voting for the Election of Directors written by William K. Sjostrom and published by . This book was released on 2008 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: We explore the theory, law, and practice of the shift by public companies from a plurality voting standard for the election of directors to a majority voting standard, an emerging governance reform sweeping corporate America. Although not mandated by law, as of October 2006, more than 250 public companies, including at least 36% of Samp;P 500 companies and 31% of Fortune 500 companies, had implemented some form of majority voting. After analyzing the forms of majority voting implemented by these companies, we conclude that majority voting, as put into action, is little more than smoke and mirrors. We then report our findings from an event study we undertook to test our quot;smoke and mirrorsquot; hypothesis. Specifically, we examined stock price movements of firms around announcements that they have or will adopt some form of majority voting. Consistent with our hypothesis, we found no statistically significant market reaction.
Download or read book Cumulative Voting and Corporate Governance in China written by Jinghui Qian and published by . This book was released on 2012 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the impact of cumulative voting on the performance of listed corporations in China. We focus on three main issues: investigating effects of corporations' ownership structure on cumulative voting adoption, exploring differences (if any) in personal attributes between the board members elected by cumulative voting and those elected by straight voting, and identifying the influence of cumulative voting members on corporate governance and firm performance. Controlling firm characteristics, we find that corporations with controlling shareholder who owns a larger proportion (even under the 30% regulatory cumulative voting cut-off) of the shares are more likely to adopt accumulative voting but the ownership concentration of other block shareholders tend to be uncorrelated or even negatively correlated with cumulative voting. In addition, both directors and supervisors elected by cumulative voting are (a) more likely to have professional titles, (b) own more stocks on average than those elected by straight voting, and (c) are more likely to be shareholder- rather than management-affiliated or controlling shareholder (typically the largest shareholder-affiliated). Such evidence indicates that they are more capable of fulfilling their duties and suggests that their personal interests may be more compatible with those of the listed corporations. In addition, we extend the existing literature by showing a positive correlation between the percentage of cumulative voting-elected directors sitting in the board of directors and firm performance. However, we did not find a significant relationship between the increase of proportion of CV supervisors and firm performance. In summary, these results demonstrate that cumulative voting, to some extent, improves corporate governance in China's listed corporations.
Download or read book Comparative Company Law written by Andreas Cahn and published by Cambridge University Press. This book was released on 2018-10-04 with total page 1095 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents in-depth, comparative analyses of German, UK and US company laws illustrated by leading cases, with German cases in English translation.
Download or read book A Critical Analysis of the Board of Directors written by Refaat Fayek Messeha and published by . This book was released on 1966 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Governance Better Policies for Board Nomination and Election in Asia written by OECD and published by OECD Publishing. This book was released on 2013-10-04 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report presents an overview of the current policy framework, a summary of challenges being faced, and policy options to improve transparency of the process.
Download or read book Cumulative Voting for National Bank Directors written by United States. Congress. House. Committee on Banking and Currency and published by . This book was released on 1956 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: Considers (84) S. 256.
