Non-mandatory say on pay votes and AGM participation : Evidence from Germany SAFE Working

@inproceedings{Powell2015NonmandatorySO,
  title={Non-mandatory say on pay votes and AGM participation : Evidence from Germany SAFE Working},
  author={Daniel Powell and S. Rapp and PAY VOTES and Steffen Rappb},
  year={2015}
}
Since August 2009, German legislation allows for voluntary Say on Pay Votes (SoPV) during Annual General Meetings (AGMs). We examine 1,169 AGMs of all German listed firms with more than 10,000 agenda items over the period 2010 – 2013 to identify (1) determinants and approval rates of voluntary SoPVs, (2) the effect of voluntary SoPVs on AGM participation, and (3) the effect of SoP on executive compensation. Our data reveals that in the first four years of the voluntary say on pay regime every… CONTINUE READING