Retail Shareholder Participation in the Proxy Process: Monitoring, Engagement

From: Alon Brav, Matthew D. Cain, and Jonathon Zytnick We study retail shareholder voting using a detailed and nearly universal sample of anonymized retail shareholder voting records over the period 2015-2017. Contrary to public perception, we find that retail shareholders are an influential voting bloc, affecting as many proposal outcomes as the Big Three asset…