Shareholder voting and efficient corporate decision-making

IF 1.2 Q3 ECONOMICS Research in Economics Pub Date : 2024-10-09 DOI:10.1016/j.rie.2024.101010

Kyounghun Lee, Frederick Dongchuhl Oh

引用次数: 0

Abstract

This study assesses the effects of shareholder voting on a firm’s decision-making by considering two voting methods: majority voting (MV) and quadratic voting (QV). Under MV, shareholders obtain voting rights in proportion to their shares, while under QV, they pay costs to buy voting rights. Our model demonstrates that under both MV and QV, the firm’s decision is efficient if shareholders collectively make the voting decisions. Moreover, shareholders can benefit from share trades resulting in the firm’s efficient decision.

查看原文

微信好友朋友圈 QQ好友复制链接

本刊更多论文

股东投票和高效的公司决策

本研究通过考虑两种投票方法：多数投票（MV）和二次投票（QV），评估股东投票对公司决策的影响。在多数投票制下，股东按股份比例获得投票权，而在二次投票制下，股东购买投票权需要支付成本。我们的模型表明，在多数投票制和二次投票制下，如果股东集体做出投票决定，公司的决策就是有效的。此外，股东还能从公司有效决策导致的股份交易中获益。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文去求助

来源期刊

Research in Economics ECONOMICS-

CiteScore

1.40

自引率

0.00%

发文量

审稿时长

89 days

期刊介绍： Established in 1947, Research in Economics is one of the oldest general-interest economics journals in the world and the main one among those based in Italy. The purpose of the journal is to select original theoretical and empirical articles that will have high impact on the debate in the social sciences; since 1947, it has published important research contributions on a wide range of topics. A summary of our editorial policy is this: the editors make a preliminary assessment of whether the results of a paper, if correct, are worth publishing. If so one of the associate editors reviews the paper: from the reviewer we expect to learn if the paper is understandable and coherent and - within reasonable bounds - the results are correct. We believe that long lags in publication and multiple demands for revision simply slow scientific progress. Our goal is to provide you a definitive answer within one month of submission. We give the editors one week to judge the overall contribution and if acceptable send your paper to an associate editor. We expect the associate editor to provide a more detailed evaluation within three weeks so that the editors can make a final decision before the month expires. In the (rare) case of a revision we allow four months and in the case of conditional acceptance we allow two months to submit the final version. In both cases we expect a cover letter explaining how you met the requirements. For conditional acceptance the editors will verify that the requirements were met. In the case of revision the original associate editor will do so. If the revision cannot be at least conditionally accepted it is rejected: there is no second revision.