Corporate governance, ie, the system by which companies are directed and controlled, has
become a key topic for legislation, practice and academia in all modern industrial states. The …

This article reviews recent research into corporate voting and elections. Regulatory reforms
have given shareholders more voting power in the election of directors and in executive …

Abstract Research Summary Given the growing legitimacy of corporate social responsibility
(CSR), many firms engage in symbolic communication to showcase CSR without …

This paper posits that distinguishing security token offerings (STOs) from initial coin offerings
(ICOs) is important for the study of entrepreneurial finance. We first provide a working …

We survey the empirical literature on disproportional ownership, ie the use of mechanisms
that separate voting rights from cash flow rights in corporations. Our focus is mostly on …

In a large sample of European firms we analyze the value discount associated with
disproportional ownership structures first documented by Claessens et al.(2002). Consistent …

We study shareholder voting in a model in which trading affects the composition of the
shareholder base. Trading and voting are complementary, which gives rise to self‐fulfilling …

We consider an incumbent who wishes to sell equity to outsiders at an IPO to implement his
firm's project. He may be talented (lower cost of effort, comparative advantage in project …

This paper proposes a new method using option prices to estimate the market value of the
shareholder voting rights associated with a stock. The method consists of synthesizing a …

Venture capital (VC) backed firms face neither the governance requirements nor a major
separation of ownership and control of their public peers. These differences suggest that …