# Proxy contests

`kaal:entity:proxy-contests`

**Status.** derived

This node is assembled mechanically from the 2 claims that carry the concept tag `proxy-contests`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

2 claims across 1 works, 2025 to 2025.

**2025**

- [5583610-011](https://wulfkaal.github.io/claims/5583610-011) [mechanism/argued] -- Retail investors, who hold roughly forty percent of U.S. equities and form a decisive voting bloc, are the channel through which LER strengthens incumbent board support in contested proxy battles.
  > By appealing to retail investors, who control roughly 40% of U.S. equities and form a powerful voting bloc,78 LER strengthens support for incumbent boards in contested proxy battles.
  Wulf A. Kaal, Liquid Equity Rewards in Corporate America (2025). SSRN: https://ssrn.com/abstract=5583610
- [5583610-018](https://wulfkaal.github.io/claims/5583610-018) [predictive/evidenced] -- Activists currently prevail in about forty percent of proxy contests, and by rallying passive retail and institutional voters LER could cut that success rate by fifteen to thirty percentage points.
  > Extrapolating from earlier studies on activist success rates, LER could reduce activist success rates by 15–30% just by rallying retail and institutional support, thus creating a resilient ownership base that prioritizes the company's long-term vision
  Wulf A. Kaal, Liquid Equity Rewards in Corporate America (2025). SSRN: https://ssrn.com/abstract=5583610

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/proxy-contests.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.