公司金融教研室学术讲座

报告题目：Investment Banking Business Ties and Mutual Fund Proxy Voting
报  告 人：赵山（香港城市大学商学院 副教授）
主  持 人：玄宇豪（中山大学岭南学院 讲师/助理教授） 
时      间：2025年5月30日（周五）14:30
地      址：岭南堂汪道涵会议室（101）
语      言：中英文

摘要:
     We examine the impact of investment banking business ties on mutual fund proxy voting decisions in shareholder meetings. Controlling for a comprehensive set of saturated fixed effects, we find robust evidence that fund families are more likely to vote with management of their investment banking client firms in shareholder proposals. Supporting a management pressure channel, the pro-management voting patterns are more pronounced in contentious proposals. Successful connected voting is associated with positive voting outcome announcement returns, suggesting that those votes reflect superior information. Finally, we find that fund families are more likely to vote against management of their client firms in non-contentious situations, suggesting that institutions vote strategically to hide their pro-management stance.

报告人介绍：
 

       赵山，香港城市大学商学院金融学副教授。主要研究领域为公司金融、公司治理、机构投资者和ESG等。其研究成果发表于世界顶尖学术期刊如Journal of Financial Economics, Review of Financial Studies和Strategic Management Journal 等。

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