Say-on-Pay Votes: The Role of the Media
| Autor: | Reginald Hooghiemstra, Yu Flora Kuang, Bo Qin |
|---|---|
| Přispěvatelé: | Accounting, Amsterdam Business Research Institute, Research programme I&O |
| Rok vydání: | 2015 |
| Předmět: |
Economics and Econometrics
SDG 16 - Peace INFORMATION WATCHDOG media_common.quotation_subject Economics Econometrics and Finance (miscellaneous) Accounting NEGATIVITY BIAS Business economics CREDIBILITY Shareholder CORPORATE GOVERNANCE Voting Credibility Economics UK Business and International Management media_common Executive compensation Say on pay business.industry Corporate governance SDG 16 - Peace Justice and Strong Institutions Equity (finance) Justice and Strong Institutions INVESTORS Business Management and Accounting (miscellaneous) EQUITY business EXECUTIVE-COMPENSATION BUSINESS PRESS Finance |
| Zdroj: | Hooghiemstra, R, Kuang, Y & Qin, B 2015, ' Say on pay votes: The role of the media ', European Accounting Review, vol. 24, no. 4, pp. 753-778 . https://doi.org/10.1080/09638180.2015.1034152 European Accounting Review, 24(4), 753-778. Routledge European Accounting Review, 24(4), 753-778. ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD |
| ISSN: | 1468-4497 0963-8180 |
| DOI: | 10.1080/09638180.2015.1034152 |
| Popis: | We investigate the association between the media coverage of firms' CEO pay packages and subsequent shareholder voting on say-on-pay resolutions, and find that negative media coverage is able to predict shareholder discontent over say on pay. When we divide media coverage into coverage in the financial and business press versus coverage in the general press, we find that shareholder voting on say-on-pay resolutions is mainly associated with the articles from the financial and business press. This suggests that the media cannot be considered a homogeneous information source that is equally able to predict shareholders' voting behaviors. As such, our findings have important implications for studies on the role of the media in corporate governance. |
| Databáze: | OpenAIRE |
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