Full metadata record
DC Field | Value | Language |
---|---|---|
dc.contributor.author | 강형구 | - |
dc.date.accessioned | 2022-11-10T06:39:19Z | - |
dc.date.available | 2022-11-10T06:39:19Z | - |
dc.date.issued | 2021-11 | - |
dc.identifier.citation | Asian Review of Financial Research, v. 34, NO. 4, Page. 41-78 | en_US |
dc.identifier.issn | 1229-0351 | en_US |
dc.identifier.uri | http://journal.korfin.org/sub/journal_detail.html?m_menu1=s6&m_menu2=s6_1&code=403284&?search=&year=2021&issueCode=30428&searchType=all | en_US |
dc.identifier.uri | https://repository.hanyang.ac.kr/handle/20.500.11754/176601 | - |
dc.description.abstract | This study investigates whether pre-meeting vote disclosures by large asset owners can amplify the influence of their votes at shareholders' meetings. We utilize the newly adopted 2019 rule that mandates Korea’s National Pension Service (NPS) to disclose voting decisions before the shareholders’ meeting. Firms subject to this pre-meeting disclosure must meet either of two conditions: the NPS holds at least 10% of the firm’s voting shares or the firm’s weight in the NPS domestic equity portfolio is at least 1%. Employing a regression discontinuity design and difference-in-differences analyses, we find that the NPS pre-meeting disclosure causes other institutional investors to increase their conformity to the NPS votes. We further find that this effect mainly originates from the resolutions that the NPS votes against management; this result is pronounced among the institutional investors who are more likely to face problems related to conflicts of interest. | en_US |
dc.description.sponsorship | We thank the Korea University Business School and the Asian Institute of Corporate Governance (AICG) for their financial support. | en_US |
dc.language | en | en_US |
dc.publisher | 한국재무학회 | en_US |
dc.subject | Shareholder voting | en_US |
dc.subject | Pre-meeting disclosure | en_US |
dc.subject | Conflicts of interest | en_US |
dc.subject | Asset owner | en_US |
dc.subject | National Pension Service | en_US |
dc.title | Anchoring Effect of Pre-Meeting Vote Disclosures: Evidence from the National Pension Service | en_US |
dc.type | Article | en_US |
dc.relation.no | 4 | - |
dc.relation.volume | 34 | - |
dc.identifier.doi | 10.37197/ARFR.2021.34.4.2 | en_US |
dc.relation.page | 41-78 | - |
dc.relation.journal | 재무연구 | - |
dc.contributor.googleauthor | 강형구 | - |
dc.contributor.googleauthor | 김선민 | - |
dc.contributor.googleauthor | 김우찬 | - |
dc.contributor.googleauthor | 라진혁 | - |
dc.sector.campus | S | - |
dc.sector.daehak | 경영대학 | - |
dc.sector.department | 파이낸스경영학과 | - |
dc.identifier.pid | hyoungkang | - |
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