Analyzing the determinants of the voting behavior using a genetic algorithm

  1. Marcos Vizcaíno-González 1
  2. Juan Pineiro-Chousa 2
  3. M. Ángeles López-Cabarcos 3
  1. 1 Department of Financial Economics and Accounting, University of A Coruna
  2. 2 Department of Financial Economics and Accounting, University of Santiago de Compostela
  3. 3 Department of Business Administration, University of Santiago de Compostela
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Revista:
European Research on Management and Business Economics

ISSN: 2444-8834

Ano de publicación: 2016

Volume: 22

Número: 3

Páxinas: 162-166

Tipo: Artigo

DOI: 10.1016/J.IEDEE.2015.11.002 DIALNET GOOGLE SCHOLAR lock_openAcceso aberto editor

Outras publicacións en: European Research on Management and Business Economics

Resumo

Using data about votes emitted by funds in meetings held by United States banks from 2003 to 2013, we apply a genetic algorithm to a set of financial variables in order to detect the determinants of the vote direction. Our findings indicate that there are three main explanatory factors: the market value of the firm, the shareholder activism measured as the total number of funds voting, and the temporal context, which reflects the influence of recent critical events affecting the banking industry, including bankruptcies, reputational failures, and mergers and acquisitions. As a result, considering that voting behavior has been empirically linked to reputational harms, these findings can be considered as a useful insight about the keys that should be taken into account in order to achieve an effective reputational risk management strategy.

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Fonte de datos: Dialnet