Imperial College London
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ProfessorPatrickBolton

Business School

Professor of Finance and Economics
 
 
 
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Contact

 

p.bolton

 
 
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Location

 

Business School BuildingSouth Kensington Campus

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Summary

 

Publications

Citation

BibTex format

@article{Bolton:2020:10.1016/j.jfineco.2020.03.004,
author = {Bolton, P and Li, T and Ravina, E and Rosenthal, H},
doi = {10.1016/j.jfineco.2020.03.004},
journal = {Journal of Financial Economics},
pages = {320--352},
title = {Investor ideology},
url = {http://dx.doi.org/10.1016/j.jfineco.2020.03.004},
volume = {137},
year = {2020}
}
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RIS format (EndNote, RefMan)

TY  - JOUR
AB  - We estimate institutional investor preferences from proxy voting records. The W-NOMINATE method maps investors onto a left-right dimension based on votes for fiscal year 2012. Public pension funds and other investors on the left support a more social and environment-friendly orientation of the firm and fewer executive compensation proposals. “Money-conscious” investors appear on the right. The proxy advisor ISS makes voting recommendations that place it center, to the left of most large mutual funds. A second dimension reflects a more traditional governance view, with management-disciplinarian investors, the proxy advisor Glass Lewis among them, pitted against more management-friendly ones.
AU  - Bolton,P
AU  - Li,T
AU  - Ravina,E
AU  - Rosenthal,H
DO  - 10.1016/j.jfineco.2020.03.004
EP  - 352
PY  - 2020///
SN  - 0304-405X
SP  - 320
TI  - Investor ideology
T2  - Journal of Financial Economics
UR  - http://dx.doi.org/10.1016/j.jfineco.2020.03.004
UR  - https://www.webofscience.com/api/gateway?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000542210000002&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=a2bf6146997ec60c407a63945d4e92bb
UR  - https://doi.org/10.1016/j.jfineco.2020.03.004
VL  - 137
ER  -
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