Question
Suppose a firm has 15.7 million shares of common stock outstanding and eight candidates are up for election to four seats on the board of
| Suppose a firm has 15.7 million shares of common stock outstanding and eight candidates are up for election to four seats on the board of directors. |
| a. | If the firm uses cumulative voting to elect its board, what is the minimum number of shares needed to ensure election to the board? |
| Minimum number of votes ? |
| b. | If the firm uses straight voting to elect its board, what is the minimum number of votes needed to ensure election to the board? |
| Minimum number of votes ? |
|
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Financial Markets and Institutions
Authors: Jeff Madura
11th Edition
1133947875, 9781305143005, 1305143000, 978-1133947875
