| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15143 |
| 来源ID | Working Paper 15143 |
| The Role of Advisory Services in Proxy Voting | |
| Cindy R. Alexander; Mark A. Chen; Duane J. Seppi; Chester S. Spatt | |
| 发表日期 | 2009-07-09 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | This paper studies the information content and consequences of third-party voting advice issued during proxy contests. We document significant abnormal stock returns around proxy vote recommendations and develop an estimation procedure for disentangling stock price effects due to changes in outcome probabilities from those due to changes in outcome-contingent valuations. We find that voting advice is a good predictor of contest outcomes and that vote recommendations appear to certify the extent to which dissidents can add value. Thus, proxy advice seems to play a dual informational role in financial markets. |
| 主题 | Financial Economics ; Financial Institutions ; Corporate Finance |
| URL | https://www.nber.org/papers/w15143 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/572818 |
| 推荐引用方式 GB/T 7714 | Cindy R. Alexander,Mark A. Chen,Duane J. Seppi,et al. The Role of Advisory Services in Proxy Voting. 2009. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15143.pdf（303KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
