Can online annual general meetings increase shareholders' participation in corporate governance?

被引：29

作者：

Gao, Huasheng ^{[1
]}

Huang, Jun ^{[2
]}

Zhang, Tianshu ^{[3
]}

机构：

[1] Fudan Univ, Fanhai Int Sch Finance, Shanghai, Peoples R China

[2] Shanghai Univ Finance & Econ, Sch Accountancy, Shanghai, Peoples R China

[3] Shanghai Univ Int Business & Econ, Accounting Sch, Shanghai, Peoples R China

来源：

FINANCIAL MANAGEMENT | 2020年 / 49卷 / 04期

基金：

中国国家自然科学基金;

关键词：

online annual general meetings; shareholder participation; corporate governance; PROTECTION; MANAGEMENT; OWNERSHIP; INVESTORS;

D O I：

10.1111/fima.12301

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We find that annual shareholder meetings conducted online can significantly increase the participation of shareholders, especially minority shareholders. This finding is more evident when the cost of physically attending the annual meeting is higher and when the firm's ownership is more dispersed. We further document significant positive stock returns when firms initiate annual online meetings. We also find that such online meetings help improve corporate governance. Overall, we provide evidence that online shareholder meetings provide shareholders a cost-effective way to participate in governance issues.

引用

页码：1029 / 1050

页数：22

共 24 条

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