If the firm uses cumulative voting to elect its board, what is the minimum number of votes needed to ensure election to the board? 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?
If the firm uses cumulative voting to elect its board, what is the minimum number of votes needed to ensure election to the board? 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?
Chapter7: Common Stock: Characteristics, Valuation, And Issuance
Section: Chapter Questions
Problem 15P
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I asked this before but the answers given were not correct and I cant figure out what else it could be.
Suppose a firm has 16.9 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 votes needed to ensure election to the board?
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?
(For all requirements, enter your answers in whole numbers, not millions.)
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