The DOI matches its Crossref record; 11 of the 11 references it cites were found in a registry or an index.
The Influence of Institutions on Corporate Governance through Private Negotiations: Evidence from TIAA‐CREF
Abstract
This paper analyzes the process of private negotiations between financial institutions and the companies they attempt to influence. 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.
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Cites
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Shareholder Activism by Institutional Investors: Evidence from CalPERS
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Liquidity versus Control: The Institutional Investor as Corporate Monitor
Coffee, J. C. (1991) · Columbia Law Review · doi:10.2307/1123064 · Cited by 921
The motivation and impact of pension fund activism
Guercio, D. (1999) · Journal of Financial Economics · doi:10.1016/s0304-405x(99)00011-2 · Cited by 902
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Pension Fund Activism and Firm Performance
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A requiem for the USA Is small shareholder monitoring effective?
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Cited by
Misery Loves Companies: Rethinking Social Initiatives by Business
Margolis, J. D., & Walsh, J. P. (2003) · Administrative Science Quarterly · doi:10.2307/3556659 · Cited by 5,130
Corporate governance proposals and shareholder activism: the role of institutional investors
Gillan, S. L., & Starks, L. T. (2000) · Journal of Financial Economics · doi:10.1016/s0304-405x(00)00058-1 · Cited by 1,769
Environmental risk management and the cost of capital
Sharfman, M. P., & Fernando, C. S. (2008) · Strategic Management Journal · doi:10.1002/smj.678 · Cited by 1,530
Behind the Scenes: The Corporate Governance Preferences of Institutional Investors
McCAHERY, J. A., SAUTNER, Z., & STARKS, L. T. (2016) · The Journal of Finance · doi:10.1111/jofi.12393 · Cited by 1,494
Dimson, E., Karakaş, O., & Li, X. (2015) · Review of Financial Studies · doi:10.1093/rfs/hhv044 · Cited by 1,242
Metadata
- Authors
- Carleton, W. T., Nelson, J. M., & Weisbach, M. S.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 1998-08
- Volume
- 53
- Issue
- 4
- Pages
- 1335-1362
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2116955982
- Cited by
- 833
- References
- 11
- FWCI
- 59.18
- Type
- journal article
- Language
- en
- Open access
- closed
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- Carleton, W. T., Nelson, J. M., & Weisbach, M. S. (1998). The Influence of Institutions on Corporate Governance through Private Negotiations: Evidence from TIAA‐CREF. The Journal of Finance. https://doi.org/10.1111/0022-1082.00055
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
