| Summary: | 碩士 === 國立中正大學 === 會計與資訊科技研究所 === 104 === This study is to investigate the impact before and after the implement of electronic voting in shareholders meeting to the financial statements bulletin. Previous literature shows that using electronic voting in shareholders meeting is the implementation of shareholder activism. The electronic voting system can also enhance shareholders voting participation rates. However, the more individual shareholders, the voting rate is relatively low.
The financial statements has information content in the capital market. The market reaction is more positive for the company which announced financial statements earlier. The release timeliness of financial statements has a significant impact to enterprise and investors.
This study expects that implementing electronic voting can improve the shareholders supervision effect under the shareholder activism. After the implementation of electronic voting, the financial statements will release earlier than before. The proportion of individual shareholders is higher, the effect may not be achieved.
The empirical results show the company which enforcing electronic voting in shareholders meeting will release financial statement earlier than before. However, higher proportion of individual shareholder will delay to release financial statements.
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