In today’s briefing:
- Hurdles to Shareholder Proposal Passage Are Still High, but the Announcement Effect Is Significant
Hurdles to Shareholder Proposal Passage Are Still High, but the Announcement Effect Is Significant
- There’re signs, with domestic institutional investors gradually becoming more willing to consider shareholder proposals. However, the hurdle to passage is still high, as shareholder proposals weren’t approved at March AGMs.
- Regarding proposals that are easy for domestic institutional investors to mechanically approve/disapprove, such as the number of independent directors and female directors, companies are expected to raise the level formally.
- Since the announcement effect of shareholder proposals is significant, it is expected that companies that did not pass shareholder proposals this time will launch initiatives to strengthen shareholder returns.
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