Browsing by Subject "Online voting"
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Item Open Access Building eco-friendly corporations: The role of minority shareholders(Springer, 2022-12-06) Yao, S.; Pan, Y.; Wang, L.; Şensoy, Ahmet; Cheng, F.Based on China’s mandatory requirement for listed firms to implement online voting in their annual general shareholder meetings, we investigate whether and how minority shareholders influence corporate environmental performance (CEP). We use the difference-in-difference approach and find that the implementation of online voting promotes minority shareholders’ participation in shareholder meetings, which, in turn, leads to improved CEP of listed firms. We discover that “local pollution” exposure and “the increasing awareness of listed firms’ environmental risks” are the main motives of minority shareholders concerning listed firms’ environmental performance. Furthermore, we find that the minority shareholders improve CEP of listed firms through influencing groups with greater bargaining power. © 2022, The Author(s), under exclusive licence to Springer Nature B.V.Item Open Access The voice of minority shareholders: Online voting and corporate social responsibility(Elsevier, 2021-03-08) Feng, Y.; Pan, Y.; Wang, L.; Şensoy, AhmetIn 2014, the Shenzhen Stock Exchange introduced “Rules for the Implementation of Online Voting” to standardize the implementation of online voting for its listed companies. Using this event as an exogenous shock, we design a difference-in-differences model to show that minority shareholders’ participation in online voting improves firms’ corporate social responsibility performance. We reveal that this improvement is achieved through minority shareholders’ positive influence on firms’ internal control and transparency and is more pronounced for private firms and firms with lower levels of profitability and less external monitoring. Accordingly, since the standardization of online voting, minority shareholders have played an important role in corporate governance and have a positive influence on firms’ sustainable development.