Institutional investor stewardship has in recent years gained traction around the globe. Prior academic studies suggest, however, that institutional investors can have their own agency problems: Institutions investors have strong incentives to under-invest in stewardship and they defer excessively to the preferences and positions of corporate managers. Their internal conflicts of interest often make activisms difficult.
In this public seminar, Professor Chao Xi will present his empirical findings of a multi-year research project funded by the Hong Kong SAR Research Grants Council on Shareholder Voting in China. His research constructs a unique dataset of the votes cast at the shareholders’ meetings of all Chinese A-share companies listed on the Main Board during the 2002-2017 period. It provides the first direct evidence of how shareholders (including institutional investors) vote in China’s A-share markets. This seminar will be of interest to retail investors in China’s A-share markets, professional money managers, corporate governance experts, regulators, policymakers and the like.
Prof. Chao Xi, Professor, Faculty of Law, CUHK
The Hong Kong Law Society has awarded this seminar 1.5 Continuing Professional Development (CPD) points.