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Electronic voting and strategic disclosure before shareholder meetings

Author

Listed:
  • Lee, Eugenia Y.
  • Ha, Wonsuk

Abstract

Electronic voting allows shareholders to participate in shareholder meetings without being physically present. This study examines the effect of electronic voting on firms’ disclosure behavior before the meetings. Empirical analyses reveal that firms that adopt electronic voting are more likely than non-adopting firms to provide good-news earnings forecasts before shareholder meetings. Firms with poorer past performance are more likely to increase disclosure. The positive returns associated with disclosure in the pre-meeting period reverse after the meeting. Overall, the results suggest that electronic voting induces strategic disclosure by managers, significantly altering the corporate information environment.

Suggested Citation

  • Lee, Eugenia Y. & Ha, Wonsuk, 2022. "Electronic voting and strategic disclosure before shareholder meetings," Economics Letters, Elsevier, vol. 219(C).
    • Handle: RePEc:eee:ecolet:v:219:y:2022:i:c:s0165176522003159
    DOI: 10.1016/j.econlet.2022.110839
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Corporate governance; Electronic voting; Information technology; Shareholder meeting; Voluntary disclosure;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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