Using Voting Decisions to Identify Shocks in the Financial Services Industry
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Using Voting Decisions to Identify Shocks in the Financial Services IndustryData
2019Cita bibliográfica
Pineiro-Chousa, J., Vizcaíno-González, M., & Ribeiro-Navarrete, S. (2019). Using voting decisions to identify shocks in the financial services industry. Service Business, 13(2), 419-431. https://doi.org/10.1007/s11628-018-00389-8
Resumo
[Abstract] This paper assesses the effects of industry shocks on shareholder votes in the financial services industry. We analyze votes on managers’ proposals for executive compensation and the election of directors in NASDAQ financial companies from
2003 to 2017. Our analyses imply that shareholders’ reactions to major industry
shocks are reflected in shareholder voting decisions. We report evidence of significant
changes in the fundamental drivers of those decisions for four recent industry shocks: the onset of the financial crisis in 2007, the subsequent stimulus decisions by G20 countries, the European sovereign debt crisis, and the emerging markets crisis. These findings can help managers understand what drives shareholder satisfaction in the uncertain environments that follow industry shocks. This insight can help managers design successful strategies to cope with the effects of such shocks
Palabras chave
Financial services
Service business
Shareholder votes
Industry shocks
Financial crisis
Service business
Shareholder votes
Industry shocks
Financial crisis
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Dereitos
© Springer-Verlag GmbH Germany, part of Springer Nature 2018
ISSN
1862-8508