Shareholder Rights and Staggered Boards

Document Type

Poster

Date of Original Version

3-27-2026

Abstract

This study examines how board structure influences shareholder voting on proxy proposals. Using U.S. data from 2010–2021, it shows that shareholder rights proposals receive significantly higher support than other governance or ESG proposals, especially at firms with staggered boards. Results suggest that board entrenchment amplifies investor demand for rights-enhancing reforms and shapes strategic voting behavior.

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