The Role of Institutional Investors in Voting: Evidence from the Securities Lending Market: Erratum

• Date: 01 December 2015
• Author: JASON STURGESS,PEDRO A. C. SAFFI,REENA AGGARWAL
• DOI: http://doi.org/10.1111/jofi.12360
• Published date: 01 December 2015

THE JOURNAL OF FINANCE •VOL. LXX, NO. 6 •DECEMBER 2015

The Role of Institutional Investors in Voting:

Evidence from the Securities Lending Market:

Erratum

REENA AGGARWAL, PEDRO A. C. SAFFI, and JASON STURGESS

The editor regrets an error in the Aggarwal, Saffi and Sturgess article (2015)

in the October 2015 issue. On page 2320, equation 2 should read:

2nd st age :SUPPLYi,t=αS

i+αS

t+γSRDATE i,t+βS

i



FEE

i,t

+βS

2



RDATE ∗FEE

i,t++δSControls

i,t+εS

i,t

And equation 4 should read:

2nd st age :ONLOANi,t=αD

i+αD

t+γDRDATE i,t+βD

i



FEE

i,t

+βD

2



RDATE ∗FEE

i,t++δDControls

i,t+εD

i,t.

And on page 2321, the third sentence should read:

For example, in equation (4) for ONLOAN we need variables that affect FEE

but not demand, such that the estimated



FEEand



RDATE ∗FEE values are

uncorrelated with the error term εD

i,t.

On page 2328 second and third paragraphs, all {RDATE * FEE} terms in the

paragraph should be under a hat.

On page 2329, in Table V, the term {RDATE * FEE} should be under a hat

rather than only FEE.

REFERENCE

Aggarwal, R., Saffi, P., and Sturgess, J., 2015, The Role of Institutional Investors in Voting: Ev-

idence from the Securities Lending Market. The Journal of Finance, 70, 2309–2346. doi:

10.1111/jofi.12284

DOI: 10.1111/jofi.12360

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