The Impact of the Shareholder Rights Directive

Abstract

In this part of the research, we consider the costs of the turnout decision and evaluate whether the introduction of the Shareholder Rights Directive (2007/36/EC), which aimed at lowering voting costs, has had a positive impact on (small) shareholder attendance. For this, we investigate turnout rates in Belgium, France and the Netherlands. We find strong indications that the Shareholder Rights Directive indeed had a positive impact on (small) shareholder attendance in these countries. The findings of this study may encourage policy makers to further reduce the costs of (cross-border) voting. It shows that the introduction of the new Shareholder Rights Directive may contribute to (small) shareholder engagement.

Citation

Lafarre, A. (2017), "The Impact of the Shareholder Rights Directive", The AGM in Europe, Emerald Publishing Limited, Leeds, pp. 205-226. https://doi.org/10.1108/978-1-78743-533-920171012