Title: The relevance of annual general meetings: recent evidence from the UK

Authors: Lawal Tolulola

Addresses: School of Finance and Management, SOAS University of London, UK

Abstract: Using over 14,000 hand-collected annual general meeting dates of UK firms over the period 2004 to 2014, the study provides some evidence in support of the information content hypothesis from the analysis of price and volume reactions around annual general meetings. In addition, the study finds some support for an increase in the information content of annual general meetings during the study period. Our results show that both the magnitude of abnormal return and the temporal variation in the information content of annual general meetings depend on a number of firm characteristics that capture firms' information environment.

Keywords: corporate governance; annual general meetings; AGMs; information content hypothesis; event study; abnormal return; abnormal volume; UK; value relevance.

DOI: 10.1504/IJBAAF.2021.111804

International Journal of Banking, Accounting and Finance, 2021 Vol.12 No.1, pp.52 - 74

Accepted: 05 Aug 2019
Published online: 15 Dec 2020 *

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