Cambridge Judge Scholar Addresses Shareholder Activism
A paper co-authored at Cambridge Judge finds that institutional shareholders recall shares to oppose management in proxy votes.
The article, entitled “The role of institutional investors in voting: evidence from the securities lending market”, was named best paper this month in the Global Challenge for Innovation in Corporate Governance by investment management firm BlackRock and the National Association of Corporate Directors (NACD) in the US.
The research was co-authored by Pedro Saffi, University Lecturer in Finance at Cambridge Judge, and it breaks new ground in showing how institutional investors influence the proxy voting process through share recall. The paper will be published in a forthcoming issue of Journal of Finance.
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