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.