The Value of Shareholder Democracy.

This paper seeks to determine the value of shareholder activism to the corporation, its shareholders and the securities market. The objective of the paper is to determine if shareholder activists' campaign for increased shareholder power, including without limitation, their efforts to dismantle staggered boards, ensure the adoption of majority voting, and obtain proxy access, will have a positive impact on the market and other shareholders. ..PAT.-Unpublished Manuscript [ABSTRACT FROM AUTHOR]