Shareholders' choice

Authors
Geraats, PMWA Haller, HH
Citation
Pmwa. Geraats et Hh. Haller, Shareholders' choice, J ECON, 68(2), 1998, pp. 111-135
Citations number
30
Categorie Soggetti
Economics
Journal title
JOURNAL OF ECONOMICS-ZEITSCHRIFT FUR NATIONALOKONOMIE
ISSN journal
09318658 → ACNP
Volume
68
Issue
2
Year of publication
1998
Pages
111 - 135
Database
ISI
SICI code
0931-8658(1998)68:2<111:SC>2.0.ZU;2-6
Abstract
We address the question of which production decisions are reached via share holder voting, if the firm's shareholders disagree. The median-voter approa ch is applied. Three dichotomies are explored: the one-man-one-vote Versus the one-share-one-vote rule, naive versus sophisticated investors, before- versus after-trade voting. Novel asymptotic results are obtained.