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Full-Text Articles in Business
How Does Shareholder Voting Influence Individual Investors’ Investment Decisions?, Yushi Tian
How Does Shareholder Voting Influence Individual Investors’ Investment Decisions?, Yushi Tian
Doctoral Dissertations
Shareholder voting is an important way for investors to participate in corporate governance. In this study, I examine, as individual investors participate in shareholder voting, whether and how their investment decision is affected by the consistency between their own vote and management’s final decision on the voting issue (i.e., opinion consistency) and whether management’ final decision aligns with the majority or minority of investors (i.e., management position). Using ego-defensiveness theory and majority effect, I predict and find that when investors have stronger opinions on the voting issue, they make more positive investment decisions if management’s final decision on the voting …
He Said, She Said: Investor Reactions To Ceo Gender And Earnings Guidance Disclosure In The Presence Of Shareholder Activism, Scott C. Jackson
He Said, She Said: Investor Reactions To Ceo Gender And Earnings Guidance Disclosure In The Presence Of Shareholder Activism, Scott C. Jackson
Doctoral Dissertations
This study addresses concerns from the SEC and examines the trend of shareholder activism and its impact on financial players. Specifically, I examine how the nature of the shareholder activism (Profitability-focused versus Environmental/Social-focused) interacts with CEO gender to create perceptions of match or mismatch within nonprofessional investors, in terms of perceived ability to address the shareholder activism. Drawing on role-congruity theory, I predict and find that when a perceived match exists, investment willingness is increased, with the greatest differences occurring when the CEO does not disclose earnings guidance information. Given recent trends that show increased disclosure of earnings guidance in …