search query: @indexterm PROXY CONTESTS / total: 6
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| Author: | Pound, J. |
| Title: | Proxy voting and the SEC. Investor protection versus market efficiency. |
| Journal: | Journal of Financial Economics
1991 : OCT, VOL. 29:2, p. 241-285 |
| Index terms: | PROXY CONTESTS REGULATIONS STOCK MARKETS USA |
| Language: | eng |
| Abstract: | Since 1935, the Securities and Exchange Commission (SEC) has regulated proxy voting under the 1934 Securities Exchange Act. The rules were intended to foster true corporate democracy. The evidence is presented that since the last major expansion of the rules in 1956, the rules have significantly increased the costs of communication and coordinated action among shareholders. They have thus deterred shareholder initiatives and inhibited the development of a private market for information about voting issues. |
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