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What Is the impact of mutual funds' ESG references on portfolio firms?

Couvert, Maxime - 2021

staggered changes in funds' voting policies, I show that investee companies adopt their mutual fund shareholders' preferred … governance provisions. This adoption is the result of mutual fund shareholders' active voting. Announced voting policies also … stimulate strategic proposal submissions by non-mutual fund shareholders …

Persistent link: https://www.econbiz.de/10012593699

Institutional ownership and cost of debt : evidence from Thailand

Yordying Thanatawee - In: Cogent business & management 10 (2023) 2, pp. 1-13

This article aims to investigate whether institutional investors aid in lowering the cost of debt using a sample of 311 nonfinancial firms listed on the Stock Exchange of Thailand (SET) over 2011-2020. All data were obtained from the SETSMART database. Controlling for firm characteristics,...

Persistent link: https://www.econbiz.de/10014505088

Institutional ownership, earnings management and earnings surprises : evidence from 39 years of U.S. data

Davis, Justin G.; García Cestona, Miguel Angel - In: Journal of economics, finance & administrative science 28 (2023) 56, pp. 218-236

Purpose As the influence of institutional investors over managerial decision-making grows, so does the importance of understanding the effect of institutional investor ownership (IO) on firm outcomes. The authors take a comprehensive approach to studying the effect of IO on earnings management...

Persistent link: https://www.econbiz.de/10014506782

Executive Compensation : Investor Preferences During Say-on-Pay Votes and the Role of Proxy Voting Advisors

Gomtsian, Suren - 2023

Shareholder say-on-pay votes allow institutional investors to influence the incentives of managers and, consequently, corporate behaviour. Surprisingly, the preferences of investors on executive compensation have been largely overlooked in the ongoing debates on sustainable corporate behaviour....

Persistent link: https://www.econbiz.de/10014254709

Corporate Governance Implications of the Growth in Indexing

Brav, Alon; Malenko, Nadya; Malenko, Andrey - National Bureau of Economic Research - 2022

Passively managed funds have grown to become some of the largest shareholders in publicly traded companies, but there …

Persistent link: https://www.econbiz.de/10013477210

Shifting Stakeholders Logics : Foreign Institutional Ownership and Corporate Social Responsibility

Cheng, Xu; Kong, Dongmin - 2022

This study examines the role of foreign institutional ownership in corporate social responsibility. Using the Shanghai-Hong Kong Stock Connect as a quasi-natural experiment, our difference-in-differences estimation shows that foreign institutional ownership drives firms’ CSR improvements....

Persistent link: https://www.econbiz.de/10013405877

A Contingency Model of Board Characteristics and Foreign Institutional Investor Ownership : The Moderating Role of Firm Size and Market Valuation

Nair, Smitha; Viswanathan, P. K.; Gopakumar, Sruthy; … - 2023

We investigate the governance sensitivity of foreign institutional investors’ (FII) ownership in a large emerging market setting of India, characterized by highly concentrated insider ownership. More specifically, we focus on the moderating role of firm size and price to book value (PB) in...

Persistent link: https://www.econbiz.de/10014257561

Less Pay and More Sensitivity? Institutional Investor Heterogeneity and CEO Pay

Shin, Jae Yong - 2010

In this paper, we develop and test a theory on the effect of institutional investor heterogeneity on CEO pay. Our theory predicts that institutional investors' incentives and capabilities to monitor CEO pay are determined by the fiduciary responsibilities, conflicts of interest, and information...

Persistent link: https://www.econbiz.de/10013142420

Rethinking 'One Share, One Vote'

Wong, Simon C. Y. - 2020

-termism in the financial markets, prominent commentators have advocated bolstering the voting rights of long-term shareholders or … preparing a proposal to give 'loyal' shareholders extra voting influence.This commentary discusses the case for departing from …

Persistent link: https://www.econbiz.de/10012857117

Investment treaties and shareholder claims for reflective loss : insights from advanced systems of corporate law

Gaukrodger, David - 2014

investment on the other hand, treat claims for damages by company shareholders differently. Advanced domestic systems generally … bar shareholders from claiming for reflective loss – loss that arises from injury to "their" company (such as a decline in … the value of shares). The claim for the loss belongs to the injured company and not to its shareholders. In contrast …

Persistent link: https://www.econbiz.de/10010463416