Virtual-only shareholder meetings have become dramatically more common following Covid-19. Analysis of transcripts and recordings of in-person versus virtual-only shareholder meetings show that virtual-only meetings are shorter and dedicate less time to addressing shareholders’ concerns.
I construct a unique dataset documenting questions shareholders submitted at virtual-only shareholder meetings. Precisely when shareholders vote against management recommendation, indicating contention with management, firms are likely to limit shareholders’ voice: they ignore shareholders’ questions and explicitly limit the scope of questions addressed. Such actions are shown to limit the extent of communication at shareholder meetings.
We examine the role of corporate taxation and institutional quality in aligning privately optimal investments with those that are socially optimal. We...
The paper proposes a framework for judicial review of board decisions that have been augmented by an AI. It starts from the assumption that the law treats...