Fabrizio Ferri
There are 2 articles for this faculty member.
About Faculty in this Article:
Fabrizio Ferri is an assistant professor in the Accounting & Management unit at Harvard Business School.
Shareholders Need a Say on Pay
| Published: | November 2, 2009 |
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| Feature: | Research & Ideas |
"Say on pay" legislation now under debate Washington D.C. can be a useful tool for shareholders to strengthen the link between CEO pay and performance when it comes to golden parachutes, says Harvard Business School professor Fabrizio Ferri. Here's a look at how the collective involvement of multiple stakeholders could shape the future of executive compensation.
Published in 2008
Board of Directors' Responsiveness to Shareholders: Evidence from Shareholder Proposals
| Authors: | Yonca Ertimur, Fabrizio Ferri, and Stephen R. Stubben |
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| Published: | March 5, 2008 |
| Paper Release Date: | March 2008 |
| Feature: | Working Papers |
How well do boards of directors respond to shareholder concerns? The recent wave of corporate scandals has raised questions about the effectiveness of boards in their monitoring role. The subsequent reform debate focused on enhancing boards' independence from management, increasing their accountability to shareholders through a different board election system, and improving boards' internal processes and practices. One direct example of this alleged lack of responsiveness to shareholder concerns is the historically low frequency of adoption of non-binding shareholder proposals receiving a majority vote, even when the vote is overwhelmingly in favor of the proposal and has been repeated for a number of years. Ignoring majority-vote shareholder proposals may be increasingly expensive, however, both for the targeted firms and for the individual directors. HBS professor Ferri and coauthors analyze the frequency of implementation of non-binding, majority-vote shareholder proposals and examine the determinants and consequences of the boards' implementation decisions.
