Knowledge (XXG)

Staggered elections

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46: 464:, or other organization, in which only a fraction (often one third) of the members of the board of directors is elected each time instead of en masse (where all directors have one-year terms). Each group of directors falls within a specified "class"—e.g., Class I, Class II, etc.—hence the use of the term "classified" board. The work of the Shareholder Rights Project has had a significant effect on the number of classified boards on the S&P 500. 357: 3297: 3287: 495:
systems, staggering has two basic effects: it makes it more difficult for a minority group to get directors elected, as the fewer directorships up for election requires a larger percent of the equity to win; and it makes takeover attempts less likely to succeed as it is harder to vote in a majority
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of new directors. Staggering may also however serve a more beneficial purpose, that is provide "institutional memory" — continuity in the board of directors — which may be significant for corporations with long-range projects and plans.
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reported in January 2007 that 2006 marked a key switch in the trend toward declassification or annual votes on all directors: more than half (55%) of the S&P 500 companies have declassified boards, compared with 47% in 2005.
2701: 1938: 1225:, half of the Senate's 76 members are eligible for re-election every 3 years. All members elected from states have a six-year term staggered over two election cycles; senators elected from the 2694: 1241:. There are rare instances in which a Federal election is held for the all members of the House of Representatives and all the members of the Senate at once, this is called a 2079: 1939:
https://democracy.peterborough.gov.uk/documents/s47107/13a.%20Appendix%20A%20Electoral%20Commission%20The%20cycle%20of%20local%20government%20elections%20in%20England.pdf
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Staggered elections have the effect of limiting control of a representative body by the body being represented, but can also minimize the impact of
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Institutional shareholders are increasingly calling for an end to staggered boards of directors—also called "declassifying" the boards.
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Every constituency has seats in both classes, with two-thirds of the seats contested in class 1 and the remaining one-third in class 2
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Every constituency has seats in two out of the three classes, with half of the seats contested in each of those classes individually
2065: 1883: 1609: 1471:, although the Electoral Commission in England has recommended that councils standardise on a 4-yearly whole council election cycle. 1308: 406: 2669: 3168: 2519: 2465: 1544: 488:, a staggered board that cannot be dismantled or evaded is one of the most potent takeover defenses available to U.S. companies. 290: 2317: 2646: 1298: 3081: 2445: 1563: 1507: 1155: 283: 273: 3227: 1538: 1303: 1293: 1262: 1119: 944:
Every constituency has seats in all three classes, with roughly a third of the seats contested in each class individually
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have a six-year term, but they are not all elected at the same time. Rather, elections are held every two years for
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Every constituency has seats in both classes, with roughly half of the seats contested in each class individually
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are elections where only some of the places in an elected body are up for election at the same time. For example,
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Most constituencies have seats in both classes, with half of the seats contested in each class individually
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Every constituency has seats in both classes, with half of the seats contested in each class individually
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Every constituency has seats in both classes, with half of the seats contested in each class individually
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Every constituency has seats in both classes, with half of the seats contested in each class individually
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election can happen, where all seats are contested. The 4 Territory seats are contested at each election.
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Jared A. Favole, "Big Firms Increasingly Declassify Boards", The Wall Street Journal, Jan. 10, 2007.
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Hillier, David; Ross, Stephen; Westerfield, Randolph; Jaffe, Jeffrey; Jordan, Bradford (2013).
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have 3 year terms only. These half-Senate elections are usually held in conjunction with an
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Danmarks Statistik - Rigsdagsvalgene og folkeafstemningerne i april og maj 1953, p. 182
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attempts more difficult; however, they are also associated with lower firm value.
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In publicly held companies, staggered boards have the effect of making hostile
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Three of Australia's five State Legislative Councils use staggered elections:
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Some constituencies have all of their seats contested in each and every class
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at successive shareholder meetings in order to exercise control of the target
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27 of the State Senates in the United States have staggered elections:
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Some chambers do not have all of its seats elected, such as in the
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When a board is staggered, hostile bidders must win more than one
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All six Legislative councils of states have staggered elections:
428:) use staggered elections, as do some public bodies, such as the 1520: 2683: 2061: 1097:
12 of the 24 provincial legislatures have staggered elections:
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Elections where only a part of the body is elected at a time
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Bebchuk, Lucian A.; Hirst, Scott; Rhee, June (2014-02-01).
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See Faleye,O., 2007, Classified Boards, Firm value, and
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Each constituency has all its seats in one class only
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Each constituency has all its seats in one class only
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Each constituency has all its seats in one class only
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Each constituency has all its seats in one class only
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Consell General - L'abstenció al Principat d'Andorra
1777:"Towards the Declassification of S&P 500 Boards" 3129: 3067: 2915: 2805: 2794: 2721: 2639: 2593: 2497: 2464: 2411: 2376: 2343: 2270: 2261: 2112: 2050:The Start of Modern Local Government (1868 – 1880) 1994:"Negentiende-eeuws districtenstelsel in Nederland" 424:attempts. Some legislative bodies (most commonly 1825:The Harvard John M. Olin Discussion Paper Series 1821:"Private Ordering and the Proxy Access Debate" 1077:where 12 seats are appointed by the president. 2695: 2073: 1869: 1867: 420:use staggered elections as a tool to prevent 379: 8: 2530:Independence of Smith-dominated alternatives 1819:Hirst, Scott; Bebchuk, Lucian (2010-01-01). 1765:, Journal of Financial Economics83, 501-529. 3296: 3286: 2802: 2702: 2688: 2680: 2267: 2080: 2066: 2058: 1948: 1946: 1616:Chamber of Deputies of Santiago del Estero 386: 372: 25: 1519:Senate and Chamber of Representatives of 516: 2525:Independence of irrelevant alternatives 2303:Sequential proportional approval voting 2020:"Geschiedenis kiesstelsel Eerste Kamer" 1928:, Ballotpedia, Accessed 24 August 2016. 1913:Western Australian Electoral Commission 1709: 36: 1840: 1830: 1801: 1790: 1747:: CS1 maint: archived copy as title ( 1740: 484:. Particularly in combination with a 7: 1258:South Australian Legislative Council 2335:Indirect single transferable voting 1926:"Length of terms of state senators" 1269:Local councils in Western Australia 1253:New South Wales Legislative Council 1514:Legislative Assembly of Costa Rica 1284:Andhra Pradesh Legislative Council 430:Securities and Exchange Commission 14: 1610:Chamber of Deputies of Santa Cruz 1545:Chamber of Deputies of Luxembourg 1309:Uttar Pradesh Legislative Council 1012:The Senate is elected nationwide 3295: 3285: 1239:Federal House of Representatives 355: 44: 2044:Akio Kamiko (2010, bilingual): 1299:Maharashtra Legislative Council 1271:also have staggered elections. 3082:Debtor-in-possession financing 2446:Mixed ballot transferable vote 1508:Chamber of Deputies of Bolivia 1210:Chamber of Deputies and Senate 1201:Chamber of Deputies and Senate 1183:Chamber of Deputies and Senate 1147:Chamber of Deputies and Senate 1129:Chamber of Deputies and Senate 1: 1539:National Congress of Honduras 1304:Telangana Legislative Council 1294:Karnataka Legislative Council 1263:Tasmanian Legislative Council 554:Argentine Chamber of Deputies 3022:Staggered board of directors 2647:Comparison of voting systems 2489:Satisfaction approval voting 2474:Single non-transferable vote 2293:Proportional approval voting 1908:"Local Government Elections" 1533:National Assembly of Ecuador 843:House of Councillors (Japan) 731:Senate of the Czech Republic 442:staggered board of directors 3139:Accretion/dilution analysis 2253:Graduated majority judgment 1699:United States corporate law 1467:Some local councils in the 531:% of seats up per election 448:is a prominent practice in 218:Right to stand for election 3348: 3102:Leveraged recapitalization 2505:Condorcet winner criterion 2196:First-past-the-post voting 1694:United Kingdom company law 1494:Chamber of Representatives 1488:General Council of Andorra 1445:West Virginia State Senate 18: 3281: 3273:Valuation using multiples 3258:Sum-of-the-parts analysis 3228:Modigliani–Miller theorem 3087:Dividend recapitalization 2902:Secondary market offering 2660: 2652:Voting systems by country 2555:Mutual majority criterion 2510:Condorcet loser criterion 2456:Vote linkage mixed system 2368:Largest remainders method 2095: 1420:Pennsylvania State Senate 1400:North Dakota State Senate 1289:Bihar Legislative Council 984:Senate of the Philippines 911:National Assembly (Nepal) 533: 530: 524: 521: 508:Use in legislative bodies 407:one-third of Senate seats 3291:List of investment banks 3206:Free cash flow to equity 3032:Super-majority amendment 2957:Management due diligence 2897:Seasoned equity offering 2545:Majority loser criterion 2431:Additional member system 2389:Hagenbach-Bischoff quota 2308:Single transferable vote 2233:Positional voting system 2169:Minimax Condorcet method 2127:Combined approval voting 1680:Mergers and acquisitions 1551:House of Representatives 19:Not to be confused with 3002:Shareholder rights plan 2992:Post-merger integration 2962:Managerial entrenchment 2932:Contingent value rights 2872:Initial public offering 2570:Resolvability criterion 2560:Participation criterion 2535:Later-no-harm criterion 2351:Highest averages method 1763:Managerial Entrenchment 1675:Industrial organization 1664:assemblies (1878–1890s) 1574:First Chamber of Sweden 1440:Washington State Senate 1335:California State Senate 1237:of all members for the 501:The Wall Street Journal 436:Application in business 3144:Adjusted present value 3007:Special-purpose entity 2845:Direct public offering 2815:At-the-market offering 2611:First-preference votes 2550:Monotonicity criterion 2520:Independence of clones 2223:Simple majoritarianism 2046:近代地方行政の黎明期(1868-1880年) 1800:Cite journal requires 1652:provincial deputations 1622:Legislature of Tucumán 1604:Legislature of Córdoba 1535:(1945–1970, 1984–1998) 1450:Wisconsin State Senate 1425:Tennessee State Senate 1192:Unicameral legislature 1174:Unicameral legislature 1165:Unicameral legislature 1156:Unicameral legislature 1138:Unicameral legislature 1120:Unicameral legislature 403:United States senators 284:Next general elections 3159:Conglomerate discount 2515:Consistency criterion 2436:Alternative vote plus 2201:Instant-runoff voting 1937:Electoral Commission 1410:Oklahoma State Senate 1380:Missouri State Senate 1375:Kentucky State Senate 1360:Illinois State Senate 1345:Delaware State Senate 1340:Colorado State Senate 1330:Arkansas State Senate 534:Method of Staggering 168:Boundary delimitation 3181:Economic value added 3176:Discounted cash flow 2585:Seats-to-votes ratio 2356:Webster/Sainte-Laguë 1527:Landsting of Denmark 1455:Wyoming State Senate 1390:Nebraska Legislature 1385:Montana State Senate 1365:Indiana State Senate 1350:Florida State Senate 1022:United States Senate 269:Elections by country 2766:Senior secured debt 2565:Plurality criterion 2164:Kemeny–Young method 1638:provincial councils 1557:(1848–1983) of the 1415:Oregon State Senate 1395:Nevada State Senate 1355:Hawaii State Senate 1325:Alaska State Senate 1107:Chamber of Deputies 518: 399:Staggered elections 362:Politics portal 3301:Outline of finance 3213:Market value added 3196:Financial modeling 3154:Business valuation 3077:Debt restructuring 2855:Follow-on offering 2840:Corporate spin-off 2798:(terms/conditions) 2715:investment banking 2606:Election threshold 2540:Majority criterion 2216:Supplementary vote 2048:, pp. 7–8: 府県会規則 / 1648:municipal councils 1634:municipal councils 1430:Texas State Senate 1243:double dissolution 1068:double dissolution 950:Senate of Pakistan 517: 454:board of directors 3309: 3308: 3233:Net present value 3218:Minority interest 3149:Associate company 3125: 3124: 3092:Financial sponsor 3012:Special situation 2982:Pre-emption right 2972:Minority discount 2882:Private placement 2781:Subordinated debt 2736:Exchangeable debt 2723:Capital structure 2711:Corporate finance 2677: 2676: 2575:Reversal symmetry 2484:Cumulative voting 2466:Semi-proportional 2441:Mixed single vote 2407: 2406: 2283:Mixed single vote 2191:Exhaustive ballot 2154:Copeland's method 2149:Condorcet methods 2089:Electoral systems 1969:elections.fgov.be 1876:Corporate Finance 1779:. Rochester, NY. 1592:communal councils 1564:National Congress 1498:Senate of Belgium 1435:Utah State Senate 1405:Ohio State Senate 1116:Buenos Aires City 1064:Australian Senate 1059: 1058: 877:Senate of Liberia 627:Australian Senate 493:cumulative voting 414:cumulative voting 396: 395: 314:Election security 297:elections in 2024 251:Electoral systems 178:Electoral college 148:Anonymous elector 3339: 3332:Takeover defense 3299: 3298: 3289: 3288: 3191:Fairness opinion 3186:Enterprise value 3169:Weighted average 3097:Leveraged buyout 2952:Drag-along right 2850:Equity carve-out 2807:Equity offerings 2803: 2799: 2771:Shareholder loan 2756:Second lien debt 2751:Preferred equity 2731:Convertible debt 2704: 2697: 2690: 2681: 2616:Liquid democracy 2268: 2248:Two-round system 2159:Dodgson's method 2082: 2075: 2068: 2059: 2053: 2042: 2036: 2035: 2033: 2031: 2016: 2010: 2009: 2007: 2005: 1990: 1984: 1979: 1973: 1972: 1961: 1955: 1950: 1941: 1935: 1929: 1923: 1917: 1905: 1899: 1896: 1890: 1889: 1871: 1862: 1855: 1849: 1848: 1843:has extra text ( 1842: 1838: 1836: 1828: 1816: 1810: 1809: 1803: 1798: 1796: 1788: 1772: 1766: 1759: 1753: 1752: 1746: 1738: 1736: 1735: 1729: 1723:. Archived from 1722: 1714: 1689:hostile takeover 1553:(1849–1888) and 1476:Historical usage 1051: 1044: 1037: 1006: 999: 972: 965: 940: 933: 926: 899: 892: 865: 858: 834: 827: 820: 792: 785: 760: 753: 746: 719: 712: 685: 678: 663:Brazilian Senate 649: 642: 617: 610: 603: 588:Argentine Senate 576: 569: 519: 450:US corporate law 446:classified board 388: 381: 374: 360: 359: 339:Election science 334:Electoral reform 188:Election silence 173:Crossover voting 130:Two-round system 48: 26: 21:Rolling election 3347: 3346: 3342: 3341: 3340: 3338: 3337: 3336: 3312: 3311: 3310: 3305: 3277: 3253:Stock valuation 3248:Residual income 3164:Cost of capital 3121: 3117:Project finance 3107:High-yield debt 3063: 3042:Tag-along right 2967:Mandatory offer 2937:Control premium 2918: 2911: 2887:Public offering 2835:Bought out deal 2797: 2796: 2790: 2717: 2708: 2678: 2673: 2656: 2635: 2589: 2580:Smith criterion 2493: 2460: 2421:Parallel voting 2403: 2399:Imperiali quota 2372: 2339: 2257: 2211:Contingent vote 2174:Nanson's method 2132:Unified primary 2122:Approval voting 2108: 2091: 2086: 2056: 2043: 2039: 2029: 2027: 2018: 2017: 2013: 2003: 2001: 1992: 1991: 1987: 1980: 1976: 1963: 1962: 1958: 1951: 1944: 1936: 1932: 1924: 1920: 1906: 1902: 1897: 1893: 1886: 1873: 1872: 1865: 1856: 1852: 1839: 1829: 1818: 1817: 1813: 1799: 1789: 1774: 1773: 1769: 1760: 1756: 1739: 1733: 1731: 1727: 1720: 1718:"Archived copy" 1716: 1715: 1711: 1707: 1671: 1584: 1579: 1483: 1478: 1464: 1459: 1317: 1277: 1221:In the federal 1219: 1214: 1095: 1090: 1052: 1049: 1045: 1042: 1038: 1035: 1007: 1004: 1000: 997: 973: 970: 966: 963: 941: 938: 934: 931: 927: 924: 900: 897: 893: 890: 866: 863: 859: 856: 835: 832: 828: 825: 821: 818: 793: 790: 786: 783: 770:Senate (France) 761: 758: 754: 751: 747: 744: 720: 717: 713: 710: 697:Senate of Chile 686: 683: 679: 676: 656: 650: 647: 643: 640: 618: 615: 611: 608: 604: 601: 577: 574: 570: 567: 515: 510: 438: 392: 354: 349: 348: 344:Paper candidate 319:Electoral fraud 309: 301: 300: 274:Close elections 264: 256: 255: 241:Political party 231: 223: 222: 143: 135: 134: 56: 31:Politics series 24: 17: 12: 11: 5: 3345: 3343: 3335: 3334: 3329: 3324: 3314: 3313: 3307: 3306: 3304: 3303: 3293: 3282: 3279: 3278: 3276: 3275: 3270: 3268:Terminal value 3265: 3260: 3255: 3250: 3245: 3240: 3235: 3230: 3225: 3220: 3215: 3210: 3209: 3208: 3201:Free cash flow 3198: 3193: 3188: 3183: 3178: 3173: 3172: 3171: 3161: 3156: 3151: 3146: 3141: 3135: 3133: 3127: 3126: 3123: 3122: 3120: 3119: 3114: 3112:Private equity 3109: 3104: 3099: 3094: 3089: 3084: 3079: 3073: 3071: 3065: 3064: 3062: 3061: 3056: 3055: 3054: 3044: 3039: 3034: 3029: 3024: 3019: 3014: 3009: 3004: 2999: 2994: 2989: 2984: 2979: 2974: 2969: 2964: 2959: 2954: 2949: 2944: 2939: 2934: 2929: 2923: 2921: 2913: 2912: 2910: 2909: 2904: 2899: 2894: 2889: 2884: 2879: 2874: 2869: 2868: 2867: 2857: 2852: 2847: 2842: 2837: 2832: 2827: 2822: 2817: 2811: 2809: 2800: 2792: 2791: 2789: 2788: 2783: 2778: 2773: 2768: 2763: 2758: 2753: 2748: 2743: 2741:Mezzanine debt 2738: 2733: 2727: 2725: 2719: 2718: 2709: 2707: 2706: 2699: 2692: 2684: 2675: 2674: 2661: 2658: 2657: 2655: 2654: 2649: 2643: 2641: 2637: 2636: 2634: 2633: 2628: 2623: 2618: 2613: 2608: 2603: 2597: 2595: 2591: 2590: 2588: 2587: 2582: 2577: 2572: 2567: 2562: 2557: 2552: 2547: 2542: 2537: 2532: 2527: 2522: 2517: 2512: 2507: 2501: 2499: 2495: 2494: 2492: 2491: 2486: 2481: 2479:Limited voting 2476: 2470: 2468: 2462: 2461: 2459: 2458: 2453: 2448: 2443: 2438: 2433: 2428: 2423: 2417: 2415: 2409: 2408: 2405: 2404: 2402: 2401: 2396: 2391: 2386: 2380: 2378: 2374: 2373: 2371: 2370: 2365: 2364: 2363: 2358: 2347: 2345: 2341: 2340: 2338: 2337: 2332: 2327: 2326: 2325: 2320: 2315: 2305: 2300: 2295: 2290: 2285: 2280: 2274: 2272: 2265: 2259: 2258: 2256: 2255: 2250: 2245: 2240: 2235: 2230: 2225: 2220: 2219: 2218: 2213: 2208: 2206:Coombs' method 2198: 2193: 2188: 2187: 2186: 2184:Schulze method 2181: 2176: 2171: 2166: 2161: 2156: 2146: 2144:Bucklin voting 2141: 2136: 2135: 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Index

Rolling election
Politics series
Elections
Ballot box
By-election
Corporate
Direct
Indirect
Fixed-term
General
Local
Mid-term
Plurality
Primary
Proportional
Recall
Snap
Sortition
Two-round system
Anonymous elector
Apportionment
Audits
Competition
Boundary delimitation
Crossover voting
Electoral college
Election law
Election silence
Gerrymandering
Initiative

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