Skip to main content Accessibility help

We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.

Close cookie message
×
  1. Home
  2. Search

Refine search

Refine search

Access:
Content type:
Publication date:
Apply   From and To filters
Subject: Show more
Journals Show more
Publishers: Show more
Societies Show more
Series: Show more
Collections: Show more

Actions for selected content:

Select all | Deselect all
  • View selected items
  • Export citations
  • Download PDF (zip)
  • Save to Kindle
  • Save to Dropbox
  • Save to Google Drive

Save Search

You can save your searches here and later view and run them again in "My saved searches".

Please provide a title, maximum of 40 characters.
Cancel
×

2 results

  • 6 - Shareholder Activism

  • from Part I - What Do We Know about Corporate Governance Practices?
  • Bryce C. Tingle, University of Calgary
  • Book:
    Hard Lessons in Corporate Governance
    Published online:
    23 May 2024
    Print publication:
    30 May 2024, pp 118-142

  • Summary

    Beyond voting, shareholders can participate in corporate governance through shareholder proposals, proxy contests, and takeovers. The evidence shows little to no benefit to firm performance or corporate governance over the long term following shareholder proposals and proxy contests. Takeovers suffer from similar failings in that there is no evidence they are actually about controlling agency costs or that the target company’s performance improves following acquisition. In fact, takeover defenses appear to be associated with better corporate outcomes.

  • 8 - Taking Stock of the Argument So Far

  • from Part II - What Can We Conclude about Our Theories of Corporate Governance?
  • Bryce C. Tingle, University of Calgary
  • Book:
    Hard Lessons in Corporate Governance
    Published online:
    23 May 2024
    Print publication:
    30 May 2024, pp 169-192

  • Summary

    Does agency cost theory work in the real world? The various hypotheses drawn from agency cost theory are considered in light of the relevant empirical evidence. Agency cost theory appears to be able to explain almost anything, but it predicts nothing.