Shareholder Voting and Corporate Sustainability in China: An Empirical Study
Chapter in an edited book (author)


摘要Despite the growing literature on China’s proliferating corporate social responsibility initiatives, little is known empirically about how Chinese shareholders react to these initiatives in their invested firms. Drawing upon a unique, hand-collected dataset containing the votes cast at shareholders’ meetings in Chinese A-share listed firms, this research reveals two divergent patterns. Some shareholders support (or oppose) such initiatives as often as they do proposals most susceptible to conflicts of interest (e.g. a firm transacting with its controlling shareholder). Others vote more strategically, rarely opposing such proposals as rigorously as they oppose proposals with a perceived negative impact on their immediate financial interests. Their varied approaches seem to be correlated with certain firm characteristics such as who controls the firm (i.e. state or private actors) and how strong the degree of control is.
著者Chao Xi
編輯Beate Sjåfjell, Christopher Bruner
書名The Cambridge Handbook of Corporate Law, Corporate Governance and Sustainability
出版社Cambridge University Press
頁次431 - 445

上次更新時間 2020-28-11 於 00:14