Finance – Accounting Research Seminar: “Investors’ Attention to Coporate Governance” by Michelle Lowry – Drexel University

February 10, 2020

20 February 2020Paris



Michelle LOWRY

DREXEL Univeristy

Date and Location

Thursday, February 20th 2020 – 14:00 – 15:30

Paris: P305 / Lille: R217 (Visio)


Using unique data on investor views of EDGAR company filings, we document that many investors devote significant effort towards governance research. However, investors’ monitoring is focused disproportionately on large firms, firms with low managerial entrenchment, and firms with meetings outside the busy spring proxy season. Passive indexer investors perform less research. Concentration of investor attention within the same firm meetings results in joint monitoring of a relatively small subset of firms. This attention is related to investors’ voting and investment decisions.

Keywords: Corporate Governance, Governance Research, Agency, Institutional Investors, ISS
JEL Classification: G30, G34

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