主讲人Speaker:赵山 副教授 香港城市大学

时间Date & Time:2025年3月25日（周二），下午14:00--15:30

地点Venue:粤海校区汇星楼565会议室

内容简介/ Abstract:

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.

主讲人介绍/Biography of the speaker：

赵山，现为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、权威学术期刊如：Journal of Financial Economics, Review of Financial Studies, Strategic Management Journal, Journal of Banking and Finance等。他曾荣获CICF2010年最佳论文奖，TCFA 2014年最佳论文奖。他的论文在美国金融学会年会（AFA），美国西部金融学会（WFA），欧洲金融学会年会（EFA）上被宣讲。他还曾担任一些国际知名经济金融学术期刊的匿名审稿人，包括Rand Journal of Economics, Journal of Banking and Finance, Journal of Business Finance and Accounting, China Economic Review, China Economic Quarterly等。

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