Department of Finance welcomes Professor Jiekun Huang to speak on Feb. 26

Feb. 22, 2021

 

The Department of Finance and the MS in Quantitative Finance (MSQF) program would like to invite you to a seminar by Professor Jiekun Huang on Friday 2/26 at 1:30 pm via Zoom.  Professor Huang is an associate professor of finance and the Vernon Zimmerman Faulty Fellow at the University of Illinois.  Even though he is relatively young in the profession, he has had a stellar record -- publishing extensively in top-tier finance journals, including JFE, RFS, JFQA, and Management Science.  Attached please find the paper and the CV.

Join Zoom Meeting 

Meeting ID: 963 1153 4040
Passcode: 816781
Dial-in number: 1 669 900 9128

Paper Title: Informed Voting
Abstract: 
Information production by shareholders is of fundamental importance for the efficiency of proxy voting. We propose a stock-return-based measure to capture informed voting. Our measure, the vote alpha, quantifies the extent to which a shareholder votes in the direction that the market perceives as value increasing. Using data on mutual funds' proxy voting records, we find that the vote alpha
is persistent. Our main result shows that the voting pattern of high vote alpha funds predicts abnormal stock returns following contentious votes. We further find that the presence of high vote alpha funds leads to improved operating performance and stock returns.

We have scheduled an exciting seminar series for this semester.  You can see upcoming as well as past seminars on our seminar webpage.