AGM in Europe

• 1, Introduction: The Law & Economics of the AGM 2, The European Framework of Shareholder Rights 3, The National Level of Shareholder Rights: Procedural and Information Rights 4, The National Level of Shareholder Rights: Decision-Making Rights 5, Descriptives of Shareholder Voter Turnout 6, Descriptives of Corporate Ownership Structures 7, Descriptives of Shareholder Voting Behaviour 8, Descriptives of Shareholder Types and Behaviour9, 'The More the Merrier': What Drives (Small) Shareholder Attendance at Annual General Meetings? 10, The Impact of the Shareholder Rights Directive 11, Shareholder Dialogue: Assessing the Relevance of Dutch AGMs 12, Small Shareholder Voting Coordination in Concentrated Ownership Structures 13, Conclusions and Policy Implications

Based on the author’s PhD dissertation, this book examines the differences between the legal theoretical role and practical role of the Annual General Meeting (AGM) of shareholders in the corporate governance of listed companies in Europe and whether and how its functioning might be enhanced, focusing on shareholder turnout. It presents comparative legal analysis of the current framework of AGMs in companies in Europe, including the procedural, information, discussion and question, and decision-making rights of shareholders, then discusses voter turnout and the behavior of small shareholders during AGMs and whether and how they use their powers in practice, looking at 251 companies in Austria, Belgium, France, Germany, Ireland, the Netherlands, and the UK; factors that contribute to small shareholder participation in AGMs, including the Shareholder Rights Directive and forum rights; and small shareholder turnout and decision making in concentrated ownership structures.