Ties That Bind: Networks, Attributes and Director Elections

This study examines the influence of director networks and personal attributes on shareholder voting in director elections. Using a dataset of voting on the appointment of directors, we assess how networks affect approval rates. Our findings indicate that directors with large networks experience lower levels of dissent, suggesting that network prominence enhances shareholder confidence. However, personal characteristics such as age, gender, nationality, and educational background also play significant roles. Older directors and male directors receive higher dissent rates, while directors with certain national backgrounds and elite educational credentials tend to be more favourably received. These results highlight the interplay between social capital and individual attributes in shaping shareholder voting behaviour, providing insights into corporate governance and the power dynamics within boardrooms.