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Research Seminar with Hans van Oosterhout
November 13, 2015 @ 12:00 pm - 1:15 pm
Research Seminar w/ Hans Van Oosterhout
Proxy Advisors as Gatekeepers of Shareholder Dissent: A Cross-National Investigation of Influence and Quality
Proxy advisors are information intermediaries that enable shareholders to exercise their voting rights. While their influence is documented in market-based corporate governance systems, we know little about the corporate governance role of proxy advice in relationship-based corporate governance systems. Drawing on the comparative corporate governance literature, we theorize that firm internal monitoring capabilities substitute for external proxy advice, and that proxy advice is both less influential and has lower predictive quality in relationship-based corporate governance systems. We test our resulting multilevel model using 13,786 voting results from 819 firms nested in 16 Western European countries and find broad support for our predictions.
Bio in brief
Hans van Oosterhout is a professor of corporate governance and responsibility at the Department of Strategic Management and Entrepreneurship, Rotterdam School of Management, Erasmus University (RSM). His research is in comparative corporate governance, involving both comparisons between different national corporate governance systems, and comparisons between different forms of enterprise organization. His current research focuses on how jurisdiction level institutions shape the respective role of owners and executives in publicly listed firms, and on the corporate governance challenges and practices of professional partnerships, family firms, and philanthropic organizations.
Professor van Oosterhout has published extensively in journals including the Academy of Management Review, Organization Studies, the Journal of Management Studies, Business Ethics Quarterly and the Journal of Business Ethics. He has held visiting positions at the Australian National University and the The Wharton School of the University of Pennsylvania. Professor van Oosterhout obtained an MA Cum Laude in political science from Leiden University and a PhD in Management from Erasmus University.