Shareholder pressure leads to board directors keeping their seats longer.
Boards of directors are more likely to follow shareholders' suggestions nowadays. A study looked at 620 shareholder proposals from 1997 to 2004 and found that the main factors influencing whether a proposal is implemented are how shareholders vote and the proposal's type. Traditional governance indicators don't seem to play a big role. Directors who implement these proposals are less likely to lose their board seat or other directorships.