The Influence Of Institutions On Corporate Governance Through Private Negotiations: Evidence From TIAA-CREF  

Oleh:

Carleton, Willard T. ; Nelson, James M ; Weisbach, Michael S.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Journal of Finance (EBSCO) vol. 53 no. 4 (Aug. 1998), page 1335-1362.
Topik: Evidence TIAA-cref; financial institutions; government; private sector
Fulltext: p 1335.pdf (130.32KB)

Isi artikel

This paper analyzes the process of private negotiations between financial institutions and the companies they attempt to inf luence. It relies on a private database consisting of the correspondence between TIAA-CREF and 45 firms it contacted about governance issues between 1992 and 1996. This correspondence indicates that TIAA-CREF is able to reach agreements with targeted companies more than 95 percent of the time. In more than 70 percent of the cases, this agreement is reached without shareholders voting on the proposal. We verify independently that at least 87 percent of the targets subsequently took actions to comply with these agreements.

Opini Anda

Klik untuk menuliskan opini Anda tentang koleksi ini!

Kembali