Voting in corporations

نویسندگان

چکیده

I introduce a model of shareholder voting. describe and provide characterizations three families voting rules: ratio rules, difference share majority rules. The rely on two key axioms: merger consistency, which requires consistency in outcomes following stock‐for‐stock mergers, reallocation invariance, the rule to be immune certain manipulative techniques used by shareholders hide their ownership. paper also extends May's theorem.

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ژورنال

عنوان ژورنال: Theoretical Economics

سال: 2021

ISSN: ['1555-7561', '1933-6837']

DOI: https://doi.org/10.3982/te3668