Suchergebnisse

Institutional shareholders are increasingly being urged to take a more active role in the governance of the companies in which they invest. In particular, attention has focused on the level of voting by institutions at annual general meetings, which has historically been rather low, and many commentators argue that institutions (particularly the pension funds) should have a legal duty to exercise their voting rights on behalf of their beneficiaries. This paper examines the issues regarding institutional voting and considers whether mandatory institutional voting is likely to lead to more active institutional involvement in corporate governnance at the individual firm level. In particular, it is argued that the imposition of mandatory voting is unlikely to result in informed voting, which is essential if the objective of increasing effective institutional involvement in corporate governance is to be met. This paper concludes that the imposition of mandatory voting is unlikely to result in a change in the investment and ownership ethos of the institutions.

IN MANDATORY VOTING SYSTEMS INDIVIDUALS WHO REPORT THEMSELVES UNDECIDED IN SURVEYS DO EVENTUALLY VOTE. USING VENEZUELAN DATA FROM 1978, WE DEMONSTRATE THE UTILITY OF DISCRIMINANT FUNCTION ANALYSIS IN HELPING TO PROVIDE AN UNDERSTANDING OF THESE VOTERS. IN AN ELECTION IN WHICH THE TWO MAJOR CANDIDATES DID NOT DIFFER SHARPLY ON ISSUES POSITIONS, AND THE "OUT" PARTY'S CANDIDATE WAS THE SURPRISE WINNER, WE ARGUE THAT UNDECIDED RESPONDENTS CAST THEIR BALLOT OVERWHELMINGLY FOR THE CANDIDATE OF THE "OUT" PARTY IN AN EFFORT TO REMOVE THE "IN" PARTY FROM OFFICE. FINDING THE INCUMBENT PARTY WANTING AND DISTRUSTING THE MILITANT LEFT, THE UNDECIDEDS VOTED FOR THE "OUT" CENTRIST PARTY ALTHOUGH THEY VIEWED ITS CANDIDATE NO MORE FAVORABLY THAN THE CANDIDATE OF THE "IN" CENTRIST PARTY. THIS EXERCISE OF RETROSPECTIVE VOTING SUGGESTS THAT, AT LEAST IN VENEZUELA, DISAPPOINTMENT WITH GOVERNMENT PERFORMANCE DOES NOT NECESSARILY LEAD TO SUPPORT OF MILITANT LEFT OR RIGHT PARTIES.

Latin America contains roughly half of the world's countries that use compulsory voting, but this electoral institution has received only limited attention from researchers. This article examines the determinants of voter turnout in the world's largest electorate subject to mandatory voting, that of Brazil. In analyzing data from six national legislative elections held in Brazil between 1986 and 2006, the study finds that the impact of compulsory laws varies across social and economic groups. From a methodological perspective, the article argues that "compulsoriness" of mandatory voting legislation can be modeled by taking into account both exemptions to the law and the relevance of potential sanctions against non-voters. The issue of enforcement must be considered if we are to develop comprehensive models of electoral participation under conditions of compulsory voting.

Latin America contains roughly half of the world's countries that use compulsory voting, but this electoral institution has received only limited attention from researchers. This article examines the determinants of voter turnout in the world's largest electorate subject to mandatory voting, that of Brazil. In analyzing data from six national legislative elections held in Brazil between 1986 and 2006, the study finds that the impact of compulsory laws varies across social and economic groups. From a methodological perspective, the article argues that "compulsoriness" of mandatory voting legislation can be modeled by taking into account both exemptions to the law and the relevance of potential sanctions against non-voters. The issue of enforcement must be considered if we are to develop comprehensive models of electoral participation under conditions of compulsory voting. (JPLA)

Latin America contains roughly half of the world's countries that use compulsory voting, but this electoral institution has received only limited attention from researchers. This article examines the determinants of voter turnout in the world's largest electorate subject to mandatory voting, that of Brazil. In analyzing data from six national legislative elections held in Brazil between 1986 and 2006, the study finds that the impact of compulsory laws varies across social and economic groups. From a methodological perspective, the article argues that "compulsoriness" of mandatory voting legislation can be modeled by taking into account both exemptions to the law and the relevance of potential sanctions against non-voters. The issue of enforcement must be considered if we are to develop comprehensive models of electoral participation under conditions of compulsory voting. Adapted from the source document.