Empirical evidence suggests that the voting premium in the Korean securities market is strongly related to the structure of corporate ownership. We find that the premium attached to voting stock is positively and significantly associated with the control value of a block of shares held by minority shareholders. We also find that the premium is negatively related to both the fraction of shares t...

This paper examines the relationship between corporate valuations and the presence, size, incentives, and identity of multiple large shareholders. Using data on a large number of firms across Western Europe, we find that about one-third of all firms, and over 40 percent of firms with one large owner, have two or more owners that each holds more than 10 percent of the voting rights. We find that...

We analyze the behavior of a monopolistic firm in general equilibrium when the firm’s decision are taken through shareholder voting. We show that, depending on the underlying distribution, rational voting may imply overproduction as well as underproduction, relative to the efficient level. Any initial distribution of shares is an equilibrium, if individuals do not recognize their influence on v...

Mu et al. have proposed an electronic voting protocol and claimed that it protects anonymity of voters, detects double voting and authenticates eligible voters. It has been shown that it does not protect voter's privacy and prevent double voting. After that, several schemes have been presented to fulfill these properties. However, many of them suffer from the same weaknesses. In this p...

We analyze the behavior of a monopolistic firm in general equilibrium when the firm’s decision are taken through shareholder voting. We show that, depending on the underlying distribution, rational voting may imply overproduction as well as underproduction, relative to the efficient level. Any initial distribution of shares is an equilibrium, if individuals do not recognize their influence on v...

During the last decade, Internet-voting (i-voting) moved from the field of fundamental research to practical application. First, we will see that theoretical research provides satisfying algorithms for some of the challenges raised by i-voting and that some real world experiments have already been developed and performed. Unfortunately, in current i-voting systems, the citizen loses his/her con...

A burgeoning problem facing organizations is the loss of workgroup productivity due to cyberloafing. The current paper examines how changes in the decision-making rights about what workgroup members can do on the job affect cyberloafing and subsequent work productivity. We compare two different types of decision-making regimes: autocratic decision-making and group voting. Using a laboratory exp...

The question raised in this paper is whether legal rights to vote are also moral rights to vote. The challenge to the justification of a moral right to vote is that it is not clear that the vote is instrumental to the preservation of some critical interest of the voter. Because a single vote has ‘no impact’ on electoral outcomes, the right to vote is unlikely to serve the interests of the indiv...

ABSTXKT. In situations where the only reliable data source is electoral data at the aggregate level for a geographic unit such as voting precincts, social scientists have sought to use ecological regression techniques to recreate the voting behavior of particular groups without committing the ecological fallacy of the sort warned of by Robinson (1950). Until quite recently, the most common use ...

The prevailing trend of treating voting-rights as a privilege for citizens has been challenged by lively debate among democratic theorists. Growing numbers resident non-citizens and non-resident are likely to make regulations more politically salient. Yet, these issues largely missing in studies public opinion little is known about the support citizenship-requirement its or less alternatives. I...