Current Perspectives on Shareholder Proposals: Lessons from the 1997 Proxy Season

Financial Management, Vol. 28, Iss. 1, Spring 1999

Posted: 30 Aug 2001

See all articles by Cynthia J. Campbell

Cynthia J. Campbell

Iowa State University - Department of Accounting and Finance

Stuart Gillan

University of Georgia - Department of Finance

Cathy M. Niden

LECG, LLC

Abstract

Rule 14a-8 of the Securities Exchange Act of 1934, commonly referred to as the shareholder-proposal rule, allows shareholders to submit proposals for inclusion in a company's proxy materials. If the rule's procedures are followed, the company's shareholders will be asked to vote on the proposal at the company's next annual general meeting. By studying how shareholders voted on proposals during the 1997 proxy season, we provide a current perspective on shareholders' use of the proxy process to promote issues of corporate governance and social policy. Our focus on the 1997 proxy season permits an assessment of the potential impact of both the proposed rule changes and those that were actually adopted.

Suggested Citation

Campbell, Cynthia J. and Gillan, Stuart L. and Niden, Cathy M., Current Perspectives on Shareholder Proposals: Lessons from the 1997 Proxy Season. Financial Management, Vol. 28, Iss. 1, Spring 1999. Available at SSRN: https://ssrn.com/abstract=267689

Cynthia J. Campbell (Contact Author)

Iowa State University - Department of Accounting and Finance ( email )

Carver Hall
Ames, IA 50011-2063
United States
515-294-8104 (Phone)
515-294-3525 (Fax)

Stuart L. Gillan

University of Georgia - Department of Finance ( email )

Terry College of Business
Athens, GA 30602-6253
United States

Cathy M. Niden

LECG, LLC ( email )

1603 Orrington Ave., Suite 1500
Evanston, IL 60201
United States
847-424-1434 (Phone)

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