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Securities Law Commons

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Full-Text Articles in Securities Law

Hidden Agendas In Shareholder Voting, Scott Hirst, Adriana Z. Robertson Jan 2022

Hidden Agendas In Shareholder Voting, Scott Hirst, Adriana Z. Robertson

Faculty Scholarship

Nothing in either corporate or securities law requires companies to notify investors what they will be voting on before the record date for a shareholder meeting. We show that, overwhelmingly, they do not. The result is “hidden agendas”: for 88% of shareholder votes, investors cannot find out what they will be voting on before the record date. This poses an especially serious problem for investors who engage in securities lending: they must decide whether the expected benefit of voting exceeds the expected benefit of continuing to lend their shares (or making them available for lending) without knowing what they will …


Securitizing Notes Of Small Businesses And Needy Workers, Tamar Frankel Jan 2022

Securitizing Notes Of Small Businesses And Needy Workers, Tamar Frankel

Faculty Scholarship

Businesses, whether large ones or small ones, such as restaurants and small shops, are presently closed and some of their employees have been laid off.1 Currently, the government is lending money to these small businesses2 and the now unemployed workers for their sustenance. It then collects the payments from some of the borrowers and the source of the rest of the money is taxes.3 Since not all, or perhaps only a few, small businesses own real estate, they might sign notes promising to repay the loans but can offer no asset backing. Presumably, the nation’s financial deficit …