Weak Governance by Informed Active Shareholders

Corporate Governance Objectives of Labor Union Shareholders

Labor union shareholders have become increasingly vocal in matters of corporate governance, however, their motives have been subject to much debate in the academic literature and business press. I examine the proxy votes of AFL-CIO pension funds in director elections of 504 companies from 2003 to 2006. Using the 2005 AFL-CIO breakup as a source of exogenous variation in the union affiliations o...

RRC V - 19 : “ Corporate Governance , Minority Shareholders and Shares Prices on Emerging Capital

The final results of this research project have been comprised within three main studies, which are mentioned below: • Dragotă, Victor, “Minority shareholders’ protection in Romanian capital markets: evidence on dividends”, published in Euro-Mediterranean Economics and Finance Review, January 2006, Vol. 1, No.1, pp. 76-89. • Dragotă, Victor; Dumitrescu, Dalina; Ruxanda, Gheorghe; Ciobanu, Anama...

Shareholders’ Pre-Emptive Rights

Can Online Annual General Meetings Increase Shareholders’ Participation in Corporate Governance? Evidence from China*

We find that annual shareholder meetings conducted online can greatly increase the participation of shareholders, especially retail shareholders. This finding is more evident when the cost of physically attending such a meeting is higher and when the firm’s ownership is more dispersed. We further document significant positive stock returns when firms initiate online annual meetings. We also fin...

Cortex is driven by weak but synchronously active thalamocortical synapses.

Sensory stimuli reach the brain via the thalamocortical projection, a group of axons thought to be among the most powerful in the neocortex. Surprisingly, these axons account for only approximately 15% of synapses onto cortical neurons. The thalamocortical pathway might thus achieve its effectiveness via high-efficacy thalamocortical synapses or via amplification within cortical layer 4. In rat...