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dc.contributor.author길재욱-
dc.date.accessioned2019-05-23T02:02:03Z-
dc.date.available2019-05-23T02:02:03Z-
dc.date.issued2018-12-
dc.identifier.citationASIA-PACIFIC JOURNAL OF FINANCIAL STUDIES, v. 47, No. 6, Page. 805-823en_US
dc.identifier.issn2041-9945-
dc.identifier.issn2041-6156-
dc.identifier.urihttps://onlinelibrary.wiley.com/doi/full/10.1111/ajfs.12238-
dc.identifier.urihttps://repository.hanyang.ac.kr/handle/20.500.11754/105796-
dc.description.abstractThis paper identifies the determinants of shareholder activism of the National Pension Fund of Korea (NPF), and investigates its stock market reaction. In the case of article amendments, the NPF exercises its voting right actively when the firm has concentrated ownership, and does not belong to chaebols. The NPF is active when the firm has diffused ownership, and is not a chaebol affiliate if the agenda up for vote is auditor appointments. The event studies show that a long position in the NPF "Yes" vote stocks and a short position in the "No" vote stocks produce positive abnormal returns.en_US
dc.description.sponsorshipThe authors thank seminar participants at the 16 th World Business Research Conference (San Francisco, July 2016). This work was supported by the National Research Foundation of Korea Grant funded by the Korean Government NRF-2013S1A2A2035472. They are grateful for financial support provided under the Global Research Network Program. Comments from the referees and the editor are also gratefully appreciated.en_US
dc.language.isoen_USen_US
dc.publisherWILEYen_US
dc.subjectNational Pension Fund of Koreaen_US
dc.subjectShareholder activismen_US
dc.subjectStock market reactionen_US
dc.subjectVoting righten_US
dc.titleDeterminants of shareholder activism of the national pension fund of Koreaen_US
dc.typeArticleen_US
dc.relation.no6-
dc.relation.volume47-
dc.identifier.doi10.1111/ajfs.12238-
dc.relation.page1-19-
dc.relation.journalASIA-PACIFIC JOURNAL OF FINANCIAL STUDIES-
dc.contributor.googleauthorLee, Jaehyun-
dc.contributor.googleauthorIn, Francis-
dc.contributor.googleauthorKhil, Jaeuk-
dc.contributor.googleauthorPark, Young S.-
dc.contributor.googleauthorWee, Kyeong Woo-
dc.relation.code2018013290-
dc.sector.campusE-
dc.sector.daehakCOLLEGE OF BUSINESS AND ECONOMICS[E]-
dc.sector.departmentDIVISION OF BUSINESS ADMINISTRATION-
dc.identifier.pidjkhil-
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COLLEGE OF BUSINESS AND ECONOMICS[E](경상대학) > BUSINESS ADMINISTRATION(경영학부) > Articles
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