This paper is dedicated to find the appropriate approach to adopt a new “shareholder proposal rule” for the improvement of the corporate governance of Chinese public companies. This paper argues that the current Chinese shareholder proposal rule is primitive and not practical and it does not...

In this study, we use geographic proximity as a measure of private information and examine the informational role of social media in stock markets. Using a large sample of individual messages (tweets) collected from Twitter during the period July 2011–March 2012, we find that local Twitter...