Role of the Board and the case of Special Meetings

Abstract

In this paper, we study heterogeneity of Bylaws and Articles of Incorporation of the companies with Board-centred model of corporate governance and the case of special meeting thresholds. The research is conducted on companies that are in the region of Delaware, USA. What year the company went public, diversity among shareholders and existence of dual shares are significant and enabled us to construct the Special Meeting Model. Implicating to potential drivers behind this threshold. In the second part of the paper, we conclude that a 52-week highest price at which stock has traded during the year is statistically significant.